Concert Pharma Raises $48.5 Million

Concert Pharmaceuticals Inc., a Lexington, Mass.-based developer of small-molecule drugs for unmet medical needs, has raised $48.5 million in Series B funding. Flagship Ventures led the deal, and was joined by Brookside Capital Partners, New Leaf Venture Partners and return backers Three Arch Partners, TVM Capital, Skyline Ventures, Greylock Partners and QVT Fund.