The Broad Institute of MIT and Deerfield Management, an investment management firm, have announced the launch of a research partnership aimed at solving complex, early-stage therapeutic challenges to serious unmet medical needs.
To that end, Deerfield will provide more than $50 million for therapeutic research projects at the Cambridge-based institute over a five-year period and is prepared to provide additional resources to advance highly promising targets as they emerge.
According to the institute, the arrangement is unique in two respects. First, a major investment firm is partnering with an academic research institution to pursue transformative, early-stage therapeutics research; and second, Deerfield will dedicate any profits from the development of a successful therapeutics to its philanthropic arm, the Deerfield Foundation, which supports healthcare innovation and initiatives benefiting children and adults in underserved communities.
"Over the last decade, scientific advances have made it possible to rapidly understand the biological basis of disease at unprecedented resolution," said Eric S. Lander, president and founding director of the Broad Institute. "The challenge now is to develop ways to speed the process of turning these scientific insights into therapies that benefit patients."
(Photo credit: Kelly Davidson)