Monday, August 1, 2016
CureDuchenne Ventures Gets Exit At Bamboo Therapeutics
Newport Beach-based CureDuchenne Ventures, the venture investment arm of nonprofit medical foundation CureDuchenne, says it has scored an exit at Bamboo Therapeutics. CureDuchenne invested in the Series A funding for Raleigh, NC-based Bamboo Therapeutics back in February. Bamboo Therapeutics and Pfizer said this morning that Pfizer will pay as much as $645M for Bamboo Therapeutics, which is developing therapies for rare neuromuscular and central nervous system diseases. CureDuchenne did not say how much it invested in the $49.5M, Series A funding for Bamboo Therapeutics, nor how much it stands to gain from the exit, or how much of that gain goes back to its nonprofit efforts. CureDuchenne is not rated by Charity Navigator, but any gain from the investment looks to greatly exceed the charity's annual budget.