Faze Medicines, a biotech focused on neurological diseases, is shutting down

A biotech company that hoped to use cell biology to address neurological disorders is shutting down.

Faze Medicines was built by VC Third Rock Ventures and launched in 2020 with $81 million from Third Rock, Casdin Capital, and venture funds run by drug giants Novartis, Eli Lilly, and AbbVie.

The company, which is based in Cambridge, Mass., planned to explore a new field called biomolecular condensates that was quickly garnering attention. Condensates are membrane-less clusters of molecules such as proteins and nucleic acids that help cells perform vital functions.

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