A report from Fierce BioTech:
Third Rock Ventures Launches SAGE Therapeutics to Address CNS Disorders with Critical Unmet Needs
Posted October 18, 2011
"Third Rock Ventures, LLC today announced the formation of SAGE Therapeutics. The company was launched with a $35 million Series A financing. SAGE's efforts focus on advancing a broad pipeline of new, critically needed treatments for some of the most disabling central nervous system (CNS) disorders such as schizophrenia, depression, pain and traumatic brain injury (TBI). SAGE Therapeutics is founded on a proprietary Positive and Negative Allosteric Modulator (PANAM) chemistry platform that will enable the rapid development of a novel class of allosteric receptor modulators. Steven Paul, M.D., the former executive vice president for science and technology and president of Lilly Research Laboratories and a former scientific director of the National Institute of Mental Health (NIMH) and Douglas Covey, Ph.D., professor of biochemistry at the Washington University School of Medicine, are founders of the company."
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