Seattle-headquartered Accelerator is aiming to kick-start New York City's nascent biotech ecosystem, leading its group of big-name investors to back a $48 million funding round for a local upstart.
Drawing on a syndicate that includes Eli Lilly ($LLY), AbbVie ($ABBV) and Johnson & Johnson ($JNJ), Accelerator launched Petra Pharma, a company tapping the expertise of some decorated biotech experts with hopes of developing new therapies for cancer and metabolic disease.
