New
York, NY and Baltimore, MD – November
16, 2017 – Deerfield
Management and The Johns Hopkins University announced today the creation of Bluefield
Innovations, a collaboration designed to catalyze the development of early
stage therapeutics. Funded by Deerfield, an investment management firm
committed to advancing healthcare, Bluefield Innovations will provide up to $65
million in initial funding over five years to support the commercialization of
early stage therapeutic research at Johns Hopkins, with additional funding
available to advance research showing strong commercial potential.
A joint steering committee will identify the
research that Bluefield will support through the preclinical development
process — including basic research, proof of concept, target selection and
investigational new drug (IND) enabling studies designed to qualify a candidate
to enter into human clinical trials. Research developed within Bluefield will either be licensed to third
parties or spun out into new companies. Funding for companies supported by
Bluefield may include capital from Deerfield.
“We are proud and excited to be collaborating with Johns Hopkins, a premier
institution with world-class scientists dedicated to pushing the boundaries of
discovery to transform healthcare,” stated James Flynn, Managing Partner at
Deerfield Management. “Further, the development expertise and scientific
leadership resident at Johns Hopkins Drug Discovery Program is a tremendous
asset in enabling Bluefield to move the innovations of Hopkins’ scientists
forward toward their therapeutic applications.”
Combining the respective strengths of each organization — Johns Hopkins’ scientific
discovery expertise and Deerfield’s drug development, operational and financial
support — enables Bluefield to reduce the financial and developmental risk
associated with early stage novel projects.
“For more than 125 years, Johns Hopkins has been at the forefront of research
and medical innovation. As we expand this tradition, collaborations with
industry will help us more efficiently move groundbreaking technologies to
market,” said Ronald J. Daniels, president of The Johns Hopkins University.
“Our relationship with Deerfield will provide a fully funded and professionally
supported avenue for Johns Hopkins researchers to deliver on the potential of
their promising work.”
About Deerfield
Deerfield is an investment management firm committed to advancing healthcare
through investment, information and philanthropy.
For more information, please visit www.deerfield.com.
Contacts
Deerfield Management Company
Karen Heidelberger, 212-551-1600
karenh@deerfield.com