Beth Israel Deaconess Medical Center (BIDMC) and Deerfield Management, a healthcare investment firm, announce a research collaboration to accelerate discovery of novel therapeutics. Deerfield will provide up to $130 million along with additional scientific and operational support to this collaboration to advance BIDMC research that has the potential to transform patient care over the next decade.
BIDMC researchers will be able to submit proposals for funding to Deerfield’s scientific review team. Accepted proposals will work with Brookline Avenue Innovations, LLC, a newly formed private company wholly owned by affiliates of Deerfield Management, to specifically manage and support BIDMC projects. Selected projects will also have the eligibility for additional capital investments to create spin-off companies.
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