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A venture capitalist made some waves early in the J.P. Morgan Healthcare Conference when he announced his new company’s mission is to make medicines less expensive. After all, two of his previous investments have fueled drug makers using genetics to treat cancer — the kind of approach that has produced remarkable outcomes but also driven up the price of drugs.

Alexis Borisy, known for co-founding Foundation Medicine and Blueprint Medicines and wearing felt fedoras, seeks to bring down prices at his new company, called EQRx. The plan is to make “equivalars,” blockbuster look-alikes that have their own intellectual property but cost far less. Borisy talked about EQRx and its chances with STAT earlier this week at JPM. 

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