Millennium Pharmaceuticals, Inc. (MLNM) Message Board

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Biotech / Medical : Millennium Pharmaceuticals, Inc. (MLNM)

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From: Icebrg	8/13/2007 1:40:25 AM
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The new firm in town Mark Levin, the founder and long-time chief executive of Millennium Pharmaceuticals Inc. who departed in 2005, is returning to his roots as a venture capitalist. Last month, Levin finished raising a $300 million fund that will invest in life sciences companies. The new firm, Third Rock Ventures, is based in Boston, and working alongside Levin are former Millennium executives Bob Tepper, Kevin Starr, Lou Tartaglia, and Nick Leschly. The executives will emphasize their ability to provide hands-on management to start-ups, not just cash. Greylock Partners of Waltham offered an assist in getting Third Rock into orbit, investing some of its own money and introducing Levin to several investors; Greylock's Bill Helman was one of the original investors in Millennium. Levin himself was a VC with Mayfield Fund in California before starting Millennium. "Life sciences is an area of pretty mediocre returns for venture capital," says Helman. "They have a strategy for breaking out of that." Levin didn't respond to calls seeking comment. boston.com

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