Biotech Values

[DewDiligence]

MNTA – Alan Crane is a current director and former CEO.

http://www.masshightech.com/stories/2009/05/11/daily42-Polaris-puts-Crane-in-general-partner-role.html

›Polaris Promotes Crane to General Partner

May 14, 2009
By Galen Moore

Polaris Venture Partners has promoted Alan Crane to general partner, adding a 13th partner to its former staff of 12, and a fourth partner to its life sciences investing team.

Crane, a venture partner at Polaris since 2002, served as president and CEO of portfolio company Momenta Pharmaceuticals from 2002 to 2006, leading the company through a $35 million initial public offering of stock in 2004.

Crane said he’ll seek investment opportunities with companies that have developed transformative “platform technologies,” that can change the way drugs are discovered and developed. “It’s a broad area of novel technology that can give rise to multiple different drugs that really have an impact in transforming medicine,” he explained.

He cited Polaris portfolio companies Alnylam Pharmaceuticals Inc. and Sirtris Pharmaceuticals Inc. Alnylam developed RNA interference technology to target disease-causing genes; Sirtris developed ways to alter molecular pathways to impact diseases of aging.

Prior to joining Polaris’ life sciences team, which also includes partners Brian Chee, Terry McGuire and Amir Nashat, Crane was senior vice president of global corporate development at Millennium Pharmaceuticals Inc.

Crane said the fact that Polaris is adding another partner, while many firms have seen departures and cuts, is an indicator of the firm’s strength. “Polaris continues to be active,” he said. “We really do believe there’s a lot of interesting opportunities to create value.”‹