Originally published November 29, 2007 at 12:00 AM | Page modified November 29, 2007 at 5:47 PM
Fate Therapeutics launches stem-cell effort with $12 million
A group of venture capitalists is investing $12 million to launch Fate Therapeutics, a biotech company aiming to develop drugs that spur...
Seattle Times business reporter
A group of venture capitalists is investing $12 million to launch Fate Therapeutics, a biotech company aiming to develop drugs that spur dormant adult stem cells to regenerate damaged tissue.
The budding biotech expects to have a product in early-stage clinical trials by next year. The company's principal backers are ARCH Venture Partners and Polaris Venture Partners, which both have a Seattle presence. Kirkland-based OVP Venture Partners and Cambridge, Mass.-based Venrock are also investors.
Fate is currently operating out of ARCH Venture Partners' Seattle offices, and will remain in the city if it finds a chief executive here, said ARCH founding partner Robert Nelsen. The company plans to open facilities in Massachussets and California, a statement said.
In Seattle "we're able to attract money to great ideas," Nelsen said. "The hardest thing is finding the right team and the right CEOs."
Fate will work on drugs that cause dormant adult stem cells to regenerate damaged tissue, as well as drugs that reprogram mature adult cells into stem cells that can repair ailing organs. The therapies could help treat Down syndrome, Alzheimer's and Parkinson's disease, as well as repair tissue in the wake of heart attacks, infections or transplants. Stem cells could also help fight certain types of cancer.
Fate's founders include Randall Moon, a stem cell expert at the University of Washington; scientists from Stanford University, the Scripps Research Institute and Harvard University; and Alex Rives, of ARCH Venture Partners.
The company's executive vice president, Tom St. John, was formerly the head of ICOS Corp.'s therapeutic development programs.
Ángel González: 206-515-5644 or agonzalez@seattletimes.com
Copyright © 2007 The Seattle Times Company
An 802.11n upgrade could make a big difference
Retailers opening doors on Thanksgiving Day
Google makes concessions on digital book deal
Critics want to block Comcast-NBC deal
Google submits revised book settlement

Opening day at Crystal Mountain
Skiers crowded the slopes at Crystal Mountain for one of the resort's earliest openings.
nwjobs

Post a comment

Michelle Goodman blogs about work/life balance.
How to tell your office you're gravely ill
Post a comment
nwautos

Choosing a new sedan? Weigh the impact of your choice on your wallet and on the planet.
Post a comment
- Homeless man, 46, arrested in Greenwood arsons
- Steve Kelley | ESPN's Bill Simmons gets us: He hates Clay Bennett, too
- KVI talk radio host off the air as of Thursday
- Police investigate videotaped arrest
- Seattle U. Men's Hoops | Big recruit goes from Huskies to Redhawks
- Razor found in muffin an accident, 'mortified' baker says
- Mariners sign Jack Wilson to 2-year contract
- Suspect's family shaken by slaying of police officer
- Mountlake Terrace woman reports razor in muffin
- Ivar's undersea billboards a hoax devised as marketing ploy
- Police investigate videotaped arrest
631 - Seattle man to pack a pistol into community center to protest mayor's ban
189 - Light rail to airport to begin Dec. 19
177 - GOP clueless as families struggle with health care
162 - KVI talk radio host off the air as of Thursday
128 - ESPN's Bill Simmons gets us: He hates Clay Bennett, too
125 - Mariners sign Jack Wilson to 2-year contract
115 - Prosecutor weighs death penalty in police slaying
103 - Wright State game thread
97 - Person of interest in custody in connection with Greenwood arsons
94
- Light rail to airport to begin Dec. 19
- Homeless man, 46, arrested in Greenwood arsons
- Ivar's undersea billboards a hoax devised as marketing ploy
- Steve Kelley | ESPN's Bill Simmons gets us: He hates Clay Bennett, too
- Washington in race for federal education funds
- KVI talk radio host off the air as of Thursday
- Police investigate videotaped arrest
- Goodwill's Glitter Sale is Nov. 14-15
- Boeing: 787 fix is complete on first plane
- Seattle U. Men's Hoops | Big recruit goes from Huskies to Redhawks





