Deerfield Management is kicking off a $550 million biotech venture fund – and has an impressive and unconventional slew of backers for a partnership that will direct all profits toward charitable purposes.
Investors include New York-Presbyterian Hospital, Memorial Sloan Kettering, Seattle Children’s Hospital, and philanthropies like the Robert Wood Johnson Foundation. Princeton University and Northwestern University are among the investors as well.
The biotech fund will be geared toward therapies in genetic diseases, cancer and orphan conditions. They’ll also focus on drug development methods and delivery.
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