May 1, 2014
VC Lightstone lands $172M with an eye on biotech startups
Lightstone Ventures, the life sciences-focused progeny of two VC stalwarts, has wrapped up a fund of its own, setting out with $172 million to back early-stage drug and med tech companies.
The firm, launched by Morgenthaler Ventures and Advanced Technology Ventures in 2012, manages the biopharma assets of its two parents, led by veterans of both firms and dividing its operation between Palo Alto, CA, Boulder, CO, and Boston. Lightstone's inherited portfolio includes GlobeImmune, Calithera Biosciences and Portola, and the firm's big exits include Plexxikon, acquired by Daiichi Sankyo for about $805 million; Proteolix, snatched up by Onyx for $851 million; and Ardian, which Medtronic ($MDT) picked up for $800 million.
May 1, 2014 | By Damian Garde