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Creating life sciences firms may be risky, but the appetite of investors shows no sign of waning.

Third Rock Ventures, the Boston venture capital firm, said Thursday that it has raised $770 million from investors for its fifth and latest fund. The company has collected a total of $2.7 billion for life sciences businesses since its inception in 2007.


“The risk in our industry has always been there,” Abbie Celniker, a partner at Third Rock, said in an interview. “Despite that risk, we can refer to so many examples of drugs that not only make a lot of money for a lot people but, more importantly, truly change the lives of patients.”

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