$500M start-up is luring top scientists away from Ivy League colleges

Arena BioWorks, a $500 million biotechnology start-up, is proving a fresh headache for embattled Harvard as it lures away its top academics with seven-figure payouts.

The group's aim is to hire top scientists to develop their ideas away from the constrictive paperwork of academia, leading to the discovery of new drugs that can be produced and sold quickly.

Many breakthrough drug discoveries have happened on university campuses, and their sale has made millions for the institutions.

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