Home / Business and Economy / Major Investor Sells $51M Scholar Rock Shares
Major Investor Sells $51M Scholar Rock Shares
5 Dec
Summary
- Commodore Capital sold all Scholar Rock shares last quarter.
- The transaction amounted to approximately $51 million.
- Scholar Rock focuses on novel therapeutics for serious diseases.
Commodore Capital has completed a full exit from its investment in Scholar Rock Holding Corporation. In the third quarter, the New York City-based firm divested approximately 1.5 million shares, representing a substantial $51.4 million transaction. This move indicates a significant change in Commodore Capital's holdings concerning the biotechnology company.
Scholar Rock Holding Corporation is actively developing innovative therapeutics for severe conditions. Their pipeline targets diseases driven by protein growth factor signaling, with key programs including Apitegromab for spinal muscular atrophy and SRK-181 for cancer. The company employs a research-driven strategy, focusing on proprietary drug discovery and clinical development.
Despite this investor shift, Scholar Rock remains dedicated to addressing unmet medical needs in areas such as neuromuscular disorders, oncology, and fibrosis. Their business model emphasizes strategic collaborations and advancing a robust clinical development program to bring novel biopharmaceutical products to patients with serious illnesses.
