Dana-Farber Cancer Institute Creates Innovative Fund to Invest in Cancer Treatments
The Dana-Farber Cancer Institute, a Council member, has entered into a partnership with MPM Capital to invest collaboratively—in a new way—in oncology research and biotechnology.
The partnership has created the MPM Oncology Innovations Fund (INV), a $100 million fund for biotech startups; and the Dana-Farber Innovations Research Fund (IRF), which holds more than $26 million in donations for oncology research. Although this relationship is the first of its kind in combining venture capital investing with philanthropic fundraising, MPM and Dana-Farber have a long history of business ventures together, including the creation of CoStim Pharmaceuticals and Tizona Therapeutics. Qualified donors to the IRF can invest in MPM’s INV, where the money will be used by Dana-Farber faculty to conduct research.
“We are thrilled to have partnered with MPM on this innovative venture philanthropy model. We have generated substantial philanthropic support for exciting areas of cancer research at Dana-Farber, and MPM will support the creation of biotech companies that seek to bring new and advanced treatments to our patients,” said Laurie H. Glimcher, MD, President and Chief Executive Officer of Dana-Farber.
NEC congratulates Dana-Farber for its innovation, in and out of the lab, to better understand and treat cancer. Read more in Dana-Farber’s news release.