Deerfield Management Company Closes Healthcare Fund at Mammoth USD...
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Deerfield Management Company Closes Healthcare Fund at Mammoth USD 840 Million

Stacey Smith, Pharma Tech Outlook | Saturday, January 02, 2021

Innovation campus Cure will be the primary location of Deerfield's work related to the fund. Early-stage startups will have access to the Cure's wet and dry labs, engineering, computing, and shared resources. The fund will also have access to innovative medtech incubators created in partnership with two medical device industry leaders

Fremont, CA: New York-based Deerfield Management Company closed the Deerfield Healthcare Innovations Fund ll, at USD 840 million. The Healthcare Innovations Fund II will invest in advancements in science that may lead to critical therapeutic interventions and back new technologies and infrastructure to improve the way healthcare is delivered to patients. The fund will collaborate with more than 15 leading academic institutions to seed novel scientific research.

“Now more than ever, these unprecedented times underscore the importance of supporting the critical work of our nation’s scientists and healthcare systems,” said James E. Flynn, managing partner of Deerfield. “Our uniquely supportive model allows us to provide leverage to innovative companies and accelerate the benefit to patients.”

Innovation campus Cure will be the primary location of Deerfield's work related to the fund. Early-stage startups will have access to the Cure's wet and dry labs, engineering, computing, and shared resources. The fund will also have access to innovative medtech incubators created in partnership with two medical device industry leaders. The majority of the early-stage companies will utilize the Cure's wet and dry labs, engineering, computing, and shared resource spaces. They will also benefit from on-site programming, including the Fellows Program, Break into the Boardroom, and Women in Science.

Today, Deerfield has more than 130 experienced healthcare-focused professionals with specialized knowledge in medicine, life sciences, drug and medical device development, healthcare markets, public policy, value-based care, financial instruments, tax, accounting, operations, corporate strategy, market access research, marketing, biostatistics and sector dynamics, all of which can be leveraged by its partners.

Deerfield also fully funds and manages the Deerfield Foundation, which has committed or invested more than USD 49 million in total to global organizations working to improve healthcare to underserved children. The Foundation recently committed nearly 10 percent of its 2020 fiscal budget toward COVID-19 emergency funding to organizations needing resources.

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