NEW YORK, May 23 - The Institute of Systems Biology, three venture capital firms, and a real estate firm have formed a company called Accelerator that will help startups emerging from, or affiliated with, the ISB get off the ground.
MPM Capital, Arch Venture Partners, Versant Ventures, and Alexandria Real Estate Equities together committed $15 million in capital in a financing led by MPM.
Accelerator plans to identify, finance, and develop ideas and technologies emerging from the ISB or other places affiliated with it. It will provide management, infrastructure, and facilities for startup companies and help them raise further funding.
Leroy Hood, the ISB's president, is a member of the board of directors of Accelerator.