MPM Capital Opens Midwest Office

Oct 07, 2010, 16:15 ET from MPM Capital

KANSAS CITY, Kan., Oct. 7 /PRNewswire/ -- MPM Capital, one of the world's leading life sciences venture capital firms, yesterday celebrated the official opening of its Midwest office in Kansas City. Governor Mark Parkinson, Joe Reardon, Mayor and CEO of the Unified Government of Wyandotte County and Kansas City, Kansas, and Tom Thornton, President and CEO of the Kansas Bioscience Authority, were joined by numerous community, civic and life sciences leaders to welcome MPM and open the newly-renovated MPM Heartland House.



"MPM has long been interested in life sciences throughout the Midwest. While our primary focus at the MPM Heartland House will continue to be human therapeutic products, the Kansas City office gives us better access to the rapidly expanding fields of animal health, crop science and eventually clean energy," said Dr. Steven St. Peter, Managing Director of MPM Capital.

"We are proud that companies like MPM are recognizing Kansas' strong biosciences industry and business climate by choosing to locate here in the state," said Parkinson. "As one of the world's top venture capital firms, MPM's presence will help Kansas and the region further our robust life sciences industry. I look forward to working with MPM to identify regional investment opportunities and build upon the progress that has been made over the last decade."

MPM Capital is believed to be the world's largest life science-dedicated venture investor. With $2.3 billion of committed capital under management, MPM has invested in approximately 125 companies since 1997.

"At MPM, we invest more than just financial capital in our companies: we also invest human capital," added St. Peter. "In many of our investments, we draw upon our significant life sciences experience and expertise to start companies and even place MPM operating partners on the management team."

The MPM Heartland House was built in 1922 by architect Fred S. Wilson for Horatio and Mary Gates, and the Neoclassical-style home is a treasured landmark. From 1981-2006, the home, which is adjacent to The University of Kansas Hospital and KU Medical Center, was the Ronald McDonald House of Greater Kansas City.

In 2010, MPM purchased and renovated the home. In conjunction with this restoration effort, MPM listed the property on the National Register of Historic Places. The MPM Heartland House will serve as MPM's base of operations in the Midwest and house other entrepreneurial companies, including companies in which MPM has invested or formed. The MPM Heartland House is MPM's third office, with the other two being located in San Francisco and Boston.

Also located at the MPM Heartland House are Novita Therapeutics, a local biopharmaceutical and medical device company, and Global Prairie, one of the country's fastest growing life sciences marketing communications firms. Global Prairie serves clients active in the global human health, animal health, plant sciences, energy, food and nutrition markets.