Harvard Getting Infusion of Capital for Drug Research

March 13, 2019 James Heinsman Hedge Fund News

Harvard University is getting ready to announce a partnership with health care hedge fund company Deerfield Management which has promised to spend $100 million to grow Harvard’s drug research endeavor. A new company was created to bring the money to the lab. Called Lab1636, the hope is that discoveries made at Harvard will lead to the development of new and promising pharmaceuticals.

The “1636” in the new company’s name is a wink to the year Harvard University-the country’s oldest institution of higher learning-was founded.

“Lab1636 will offer sustained support to ensure breakthrough innovations have a reasonable shot at becoming new therapeutics,” said Isaac T. Kohlberg, senior associate provost and chief technology development officer at Harvard.

University officials say that during the past five years Harvard has founded over 70 startups, the majority of which are biology companies. Deerfield is ready to get on the bandwagon. James E. Flynn, managing partner at the alternative investment firm, said that

Harvard’s “outstanding science, breadth of technologies and mix of esteemed junior and senior faculty constitute a fertile environment” for the discovery of new and important medicines.

This is not Deerfield’s first such venture. Other research centers and universities it has collaborated with include: the University of North Carolina at Chapel Hill, Northwestern University, Johns Hopkins University and the Broad Institute of MIT and Harvard.

Deerfield Management, Harvard University, Isaac T. Kohlberg, James E. Flynn, Lab1636,

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