Rallybio founders (left to right): Jeff Fryer, Martin Mackay and Steve Uden

Mar­tin Mack­ay’s rare dis­ease start­up gets $145 mil­lion as it en­ters the clin­ic

Two years ago, Mar­tin Mack­ay took a cou­ple of fel­low ex­iles from Alex­ion’s 2017 culling and, af­ter 3 decades in Big Phar­ma and big biotech, struck out on his own, with a vague vi­sion that was as small as it was broad. They called it Rally­bio and it was go­ing to fo­cus on rare dis­eases — they just didn’t say which of the thou­sands of those rare dis­eases that would be.

To­day, they did, dis­clos­ing the first of what they say will even­tu­al­ly be a list of pro­grams. And the trio — which al­so in­cludes for­mer Alex­ion re­search head Stephen Uden and Alex­ion tax chief Jeff Fry­er — raised $145 mil­lion in Se­ries B fund­ing to take in­to the clin­ic, grab­bing cap­i­tal from the apt­ly named Piv­otal bioVen­ture Part­ners and 10 oth­er in­vest­ment firms.

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