Business

Novartis, Amgen join venture fund

The biopharmaceutical companies Novartis AG and Amgen Inc. have signed on as limited partners in a new $265 million venture capital fund raised by the Cambridge firm Atlas Venture.

The new fund, Atlas Venture Fund IX, will invest in biomedical and life sciences start-ups.

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Separately, Novartis, a Swiss company that runs its global research operations from Cambridge, and California-based Amgen, which also has a research center in ­Cambridge, have entered into corporate strategic partnerships with Atlas Venture, the partners said.

The alliances will “provide Amgen and Novartis with strategic proximity to Atlas Venture’s start-up formation activities around innovative, potentially high impact medicines, and catalyze future collaborations around translational research,” the venture firm said in a statement.

Robert Weisman

Robert Weisman can be reached at weisman@globe.com. Follow him on Twitter @GlobeRobW.
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