Fa­heem Has­nain and his ex-Re­cep­tos team launch a new biotech with $100M and a twist on the old biotech mod­el

And the mon­ey just keeps flow­ing.

Two for­mer Re­cep­tos ex­ec­u­tives, Fa­heem Has­nain and Sheila Gu­jrathi, stepped out late Thurs­day with news that they’ve launched a new com­pa­ny equipped with $100 mil­lion in seed cap­i­tal.

These two ex­ec­u­tives are best know for their roles at Re­cep­tos, a San Diego com­pa­ny ac­quired by Cel­gene for $7.2 bil­lion in 2015. Has­nain served as CEO, and Gu­jrathi as CMO. Since that ac­qui­si­tion, many in San Diego were left won­der­ing what Has­nain and the ex­ec­u­tive team would go on to do. And now they have their an­swer.

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