A new biotech incubator emerges

RA Capital has launched a small incubator, called Carnot (for the thermodynamic cycle), meant to help fledgling biotech companies mature and make money. It’s a marked shift in the venture firm’s direction, which used to focus more on larger public companies. In the past years, however, it’s been shifting toward more novel investments in early-stage biotechs. 

So far, two companies have been birthed by RA: Imbria Pharmaceuticals, which has thus far raised $40 million for its experimental heart drug, and Eliem Pharmaceuticals, which remain in stealth mode.

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