Atlas, Third Rock launch new Cambridge biotech with $49M round

Atlas Venture and Third Rock Ventures have teamed up to launch new Cambridge biotech Magenta Therapeutics, which will focus on improving bone marrow transplants. They recently unveiled a $48.5M round of financing.

Magenta will be led by Jason Gardner, the former head of GSK’s R&D facility in Boston, and was founded with the help of top scientists in the field, including David Scadden of the Harvard Stem Cell Institute. The firm is currently working out of the Forsyth Institute, but plans to move to a new location next year.

Magenta bills itself as the first biotech to focus on making bone marrow transplants safer and available for a broad range of patients. According to Gardner, recent breakthroughs have the potential to make stem cell transplant medicine available to patients with early-stage cancers, bone marrow failure and a wide array of autoimmune diseases.

Read the full article at bizjournals.com…