Deerfield
About Deerfield

Launched in 1994, Deerfield Management Company is an investment firm dedicated to advancing healthcare through information, investment, and philanthropy—all toward the end goal of cures for disease, improved quality of life, and reduced cost of care.

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Investment

Supporting companies across the healthcare ecosystem with flexible funding models…

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Information

Delivering market research to the Deerfield team, its portfolio companies and other partners.

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Philanthropy

A New York City-based not-for-profit devoted to advancing innovative health care initiatives.

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Research Collaborations

Deerfield partners with leading academic research centers, providing critical funding and expertise to further sustain and accelerate the commercialization of discoveries toward meaningful societal impact by advancing cures for disease.

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Strategic Partners

As a strategic partner, Deerfield offers capital, scientific expertise, business operating support, and unique access to innovation.

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Deerfield Foundation

The Deerfield Foundation is a New York City-based not-for-profit organization whose mission is to improve health, accelerate innovation and promote human equity.

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Cure Campus

Cure is a 12-story innovations campus in New York City that intends to bring together innovators from academia, government, industry, and the not-for-profit sectors to advance human health and accelerate the fight against disease.

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Cure Programming

Cure has a series of expert lectures intended to advance thought in healthcare, management, innovation, policy, and other relevant subjects. This fosters growth and education for those at Cure and its guests.

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BIDMC and Deerfield Management announce research collaboration to accelerate the creation and development of therapeutics

Deerfield Management commits up to $130 million to translate BIDMC research programs from the bench to the bedside

BOSTON and New York, N.Y. (Sept. 8, 2022) – Beth Israel Deaconess Medical Center (BIDMC) and Deerfield Management, a healthcare investment firm, announce a research collaboration to accelerate discovery of novel therapeutics. Deerfield will provide up to $130 million along with additional scientific and operational support to this collaboration to advance BIDMC research that has the potential to transform patient care over the next decade.

“We are honored to collaborate with Deerfield Management to help provide our investigators with the infrastructure and support necessary to create transformative medicines,” said Gyongyi Szabo, MD, PhD, chief academic officer of BIDMC and Beth Israel Lahey Health. “Research is an essential component of clinical care. Aligning with Deerfield will bolster the outstanding work by BIDMC investigators, translating the discoveries from bench to bedside at a more rapid pace. The collaboration will provide a seamless mechanism to advance discoveries fueled by the recently launched BIDMC Translational Research Hubs.”

BIDMC researchers will be able to submit proposals for funding to Deerfield’s scientific review team.  Accepted proposals will work with Brookline Avenue Innovations, LLC, a newly formed private company wholly owned by affiliates of Deerfield Management, to specifically manage and support BIDMC projects. Selected projects will also have the eligibility for additional capital investments to create spin-off companies.

“As a national hospital leader with a notable focus on advancing health care services through scientific research, BIDMC is an ideal partner for our team at Deerfield Management,” said James Flynn, managing partner of Deerfield Management. “In collaboration with some of the brightest minds in the field, we are eager to do our part to connect people, capital, ideas, and technology in ways that will improve standard of care.”

A key partner in the collaboration is BIDMC’s Translational Research Hubs, which are multidisciplinary research and clinical teams focusing on therapeutic areas and technology platforms that align with the needs of BIDMC’s patient population. The hubs aim to maximize collaboration among physicians, scientists, students and trainees to give members the opportunity to learn from one another and in turn launch novel scientific and medical discoveries.

“BIDMC’s world renowned scientists are transforming medical care and training the next generation of leaders in the medical sciences,” said Pete Healy, president of BIDMC. “This collaboration with Deerfield aims to provide a strong foundation for continuing this innovative work at an accelerated pace and enhancing our ability to provide extraordinary patient care.”

About Beth Israel Deaconess Medical Center 

Beth Israel Deaconess Medical Center is a patient care, teaching and research affiliate of Harvard Medical School and consistently ranks as a national leader among independent hospitals in National Institutes of Health funding. BIDMC is the official hospital of the Boston Red Sox. 

Beth Israel Deaconess Medical Center is a part of Beth Israel Lahey Health, a health care system that brings together academic medical centers and teaching hospitals, community and specialty hospitals, more than 4,800 physicians and 36,000 employees in a shared mission to expand access to great care and advance the science and practice of medicine through groundbreaking research and education.

About Deerfield Management 

Deerfield is an investment management firm committed to advancing healthcare through investment, information and philanthropy. The Firm works across the healthcare ecosystem to connect people, capital, ideas and technology in bold, collaborative and inclusive ways. For more information, please visit www.deerfield.com.

MEDIA CONTACT:                                                                                             

Teresa Herbert (BIDMC), [email protected]

Caroline Drucker (Deerfield), [email protected]

Written by Chloe Meck