Philip Vickers, Faze Medicines CEO

Up­dat­ed: Two years af­ter launch, Third Rock-backed neu­ro start­up Faze Med­i­cines is clos­ing its doors — re­port

In 2020, the biotech mar­ket was pro­pelled up­ward by Covid-19, as mon­ey flowed quick­ly in­to the in­dus­try. In De­cem­ber of that year, Faze Med­i­cines launched with an $81 mil­lion Se­ries A and a goal of de­vel­op­ing a treat­ment for ALS and oth­er neu­rode­gen­er­a­tive dis­eases through mol­e­c­u­lar con­den­sates — mem­brane­less, flu­id­like schools of pro­tein and nu­cle­ic acids that im­pact a range of cell func­tions.

Fast for­ward to 2022. That “sug­ar high,” as one in­dus­try ex­pert put it, has large­ly stalled, and biotechs have been lay­ing off em­ploy­ees, prun­ing pipelines, and find­ing oth­er so-called ‘strate­gic al­ter­na­tives.’ And Faze Med­i­cines is shut­ting its doors, ac­cord­ing to em­ploy­ee so­cial me­dia posts and a re­port in STAT.

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