John Hood is at it again.
In 2016, Hood started a company, Impact BioMedicines, around a medicine that had been abandoned by the drug giant Sanofi. Impact raised $22 million in October 2017, and then was purchased in January 2018 by Celgene for more than $2 billion.
On Thursday, Hood announced that a new company, Endeavor BioMedicines, has raised $62 million to test a medicine owned by Eli Lilly that was not being developed. Hood believes the drug, originally aimed at skin and other cancers, could hold promise in interstitial pulmonary fibrosis, a deadly and difficult-to-treat lung disease.
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