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.

img_side
mask_sidebar
Recently from the Blog

NEC Calls On Congress to Pass Corporate Diversity Bill

04/20/2021 | Read Post

Keolis Commuter Services Releases New Spring Train Schedules

04/15/2021 | Read Post

In the News

NEC Endorses Cannabis Banking Legislation

04/1/2021 | Read Press Release

NEC Calls on Congress to Double Pell Grant

03/9/2021 | Read Press Release