A former director of the National Cancer Institute and a serial biotech entrepreneur — both, incidentally, nicknamed Ned — have formed a company, Jupiter Bioventures, that aims to start early stage biotech companies and either sell them off or, more likely, kill them.
Jupiter has raised $70 million from investors including Mission BioCapital and the Mayo Clinic to start small biotechs that might eventually be sold off at much higher valuations.
The founders are Norman “Ned” Sharpless, the former NCI director, who also served as acting commissioner of the Food and Drug Administration during the first Trump administration, and Nathaniel “Ned” David, a serial biotech entrepreneur who founded companies including Syrrx, Achaogen, Kythera and Unity Biotechnology.
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