Stem Cell Start-Up Fate Gets $12 Million
Fate says it'll have offices in both Massachusetts and Washington (the company was incubated in the Seattle offices of ARCH), but until a CEO is hired, they won't have a decision about where the HQ will be.
From the Seattle Times coverage:
In Seattle "we're able to attract money to great ideas," [ARCH founding partner Robert] Nelsen said. "The hardest thing is finding the right team and the right CEOs."
Fate will work on drugs that cause dormant adult stem cells to rebuild damaged tissue, as well as drugs that reprogram mature adult cells into stem cells that can repair ailing organs.
The therapies could help treat Down syndrome, Alzheimer's and Parkinson's diseases, as well as repair tissue after heart attacks, infections or transplants. Stem cells could also help fight certain types of cancer.
Mass High Tech adds:
The firm aims to develop chemical-based, or small molecule, drugs intended to "awaken" stem cells in the body to combat diseases and regenerate tissue. Its other molecules would reprogram adult cells to an embryonic state. None of the firm's treatments would be derived from embryonic stem cells, the company says.
Other local notables involved in Fate Therapeutics include Massachusetts Institute of Technology professors Robert Langer and Ram Sasisekharan, both of whom serve on the firm's scientific advisory board.