Breaking from tradition

Traditional VCs are missing from the new series A syndicate backing Yumanity Therapeutics LLC, and the biotech says that was its plan. The neurodegeneration company wanted investors with exceedingly long time horizons and the ability to support it in the private and public arenas.

Last week, Yumanity raised $45 million in a round led by Fidelity. Redmile Group, Alexandria Venture Investments, Biogen Inc. (NASDAQ:BIIB), Sanofi-Genzyme BioVentures and Dolby Family Ventures also participated...