Investors Launch Sage Therapeutics

Third Rock Ventures has helped form Sage Therapeutics, based in Boston, by spearheading a $35 million investment round. Steven Paul, former president of Eli Lilly & Co.’s research laboratories, and Washington University School of Medicine professor Douglas Covey are founders of the new company. Sage will focus on treatments for central nervous system disorders. Its technology relies on allosteric modulator chemistry to target excitatory and inhibitory neurotransmitter systems in the brain and balance neuronal activity.