Novartis invests in, partners with Perlara

Novartis ($NVS) teed up its second discovery deal of the day with an investment and partnership with Perlara PBC to discover and develop treatments for lysosomal storage disorders using CRISPR-engineered animal models. The San Francisco-based startup is a graduate of well-known startup accelerator Y Combinator, which has provided seed funding.

Interestingly, Perlara is structured as a public benefit corporation (PBC), a company structure in California that’s intended to facilitate a devotion to a charitable purpose rather than profit. Perlara has tasked itself with orphan disease drug development. Organizations such as hospitals and colleges are sometimes organized as PBCs.

Read full story at Fierce Biotech