What's a suc­cess­ful fail­ure? At­las' Booth sounds taps for Mer­ck-backed Quar­tet Med­i­cine

At­las Ven­ture sound­ed taps for biotech start­up Quar­tet Med­i­cine this morn­ing — done in by a trou­bling tox sig­nal that scut­tled its plans to de­vel­op a new chron­ic pain med.

At­las part­ner Bruce Booth wrote a de­tailed blog post to­day spelling out what drove the in­vestors to write off their $16 mil­lion in­vest­ment in the com­pa­ny, which he deemed a dis­ci­plined, suc­cess­ful fail­ure for a group that makes high-risk, high-re­ward gam­bles.

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