NEW YORK, New York – June 5, 2024 – Deerfield Management is pleased to welcome Dr. Frank Nestle, M.D., FMedSci, as Partner on the Therapeutics team and Chief Executive Officer of the firm’s therapeutic discovery and development operations.
Deerfield Discovery and Development (“3DC”) plays a critical role in advancing early-stage therapeutics from scientific discovery through preclinical proof of concept and into the clinic. 3DC partners closely with principal investigators in Deerfield’s extensive research collaboration network, industry leaders, and entrepreneurs to provide deep functional expertise and experience spanning numerous scientific domains.
Dr. Nestle brings a wealth of experience to 3DC from his previous position as Global Head of Research and Chief Scientific Officer at Sanofi, where he oversaw all major therapeutic areas and technology platforms. Dr. Nestle played a crucial role in establishing Sanofi as a global leader in immunology, doubling the number of clinical candidates in development through promoting research productivity and leveraging artificial intelligence. He has been tenacious in the pursuit of external innovation, including the acquisition of major research platforms and clinically impactful investigational medicines such as amlitelimab, a promising therapy for atopic dermatitis.
“Deerfield’s partnerships with leading academic centers, state-of-the-art on-site laboratories, industrial collaborations, and connections with entrepreneurs create a powerful ecosystem designed to identify and advance new therapeutics,” commented Dr. Nestle. “The opportunity to partner and collaborate with stakeholders across the entire healthcare spectrum in traditional and innovative ways is extremely exciting.”
“3DC provides Deerfield scientists with the capacity to execute on discovery work ourselves wherever it can be done better, faster, or more economically,” said James Flynn, Deerfield’s Managing Partner. “Dr. Nestle’s expertise in expanding clinical development capabilities, identifying cutting-edge technologies, and fostering collaborations with industry, academics, and public-sector partners make him the ideal candidate to lead Deerfield to the next level.”
3DC is housed within Deerfield’s recently opened innovation campus, Cure. Located at 345 Park Avenue South in New York City, Cure’s 320,000-square foot facility provides a collaborative environment for healthcare, life science, and technology-focused companies, featuring wet and dry lab space as well as shared engineering, computing, and community-building resources. 3DC research scientists are currently advancing more than two dozen novel therapeutics, enabled by Deerfield’s collaborations with leading research institutions and industry partners.
Michael Foley, Ph.D., who previously led 3DC, will transition to a new position as CEO of Excelsior Sciences, a Deerfield portfolio company housed at Cure.
“Mike Foley has done a stellar job in building a cutting-edge scientific team at Deerfield, capable of advancing therapeutics across a wide range of modalities and diseases,” commented Flynn. “We are grateful for his contributions and have made sure he isn’t going far.”
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.