February 15, 2022 01:56 PM Eastern Standard Time
NEW YORK–(BUSINESS WIRE)–Deerfield Management and the Deerfield Foundation today announced the formation of Advancium Health Network, an independent charitable organization. Its mission is to advance human equity through innovation and education by bringing together diverse thought leaders, entrepreneurs, and mission-focused problem solvers to create cures and solutions that would not be furthered through a commercial lens.
“There are critical innovations that have the potential to create a compelling impact to patients in need if supported through thought leadership and funding.”
To fulfill its mission, Advancium embraces a two-pronged approach:
- Move forward projects in areas of compelling need, but questionable commercial viability
- Educate populations to engage diverse thought leadership in healthcare and investment
“Advancium Health Network can and will make a significant difference in addressing some of the most pressing healthcare challenges today that might not otherwise be solved,” said James Flynn, Managing Partner, Deerfield Management and Cure Founder. “There are critical innovations that have the potential to create a compelling impact to patients in need if supported through thought leadership and funding.”
Advancium identifies and develops potential revolutionary medical discoveries that address rare diseases, important medical device technologies, disease in children, among many other healthcare needs. The organization will build initiatives to address the gender and racial gaps that exist in the healthcare and financial service industries with diversity programs created by Deerfield Management, including the Deerfield Fellows Program, Break into the Boardroom, and Women in Science.
“We need to source all of the best thinking and do so in a way that reflects the diversity of the scientific ecosystem if we’re to make a meaningful impact on global human health,” said Ron Mitchell, Advancium board member and CEO of Humanity Health. “I’m excited to see the impact we can have.”
Ron Mitchell will be joined on Advancium’s Board by Jeffrey Kaplan, Founder and Chairman of the A to Z Impact Foundation, David Doneson, Chief Executive Officer of the American Committee for the Weizmann Institute of Science, Olivier Elemento, Ph.D., the Director of the Englander Precision Medicine Institute at Weill Cornell Medicine, and Mark Veich, the Executive Director of the Deerfield Foundation, who will also serve as the President of Advancium.
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.
About Deerfield Foundation
An affiliate of Deerfield Management, the Deerfield Foundation is a New York City-based not-for-profit organization whose mission is to strive to improve health, accelerate innovation and promote human equity. Since its inception in 2007, the Foundation has formed numerous partnerships and invested in the advancement of children’s health, from clinics in the South Bronx to Nepal. Funds are provided through employee contributions and directly from Deerfield’s profits. https://deerfield.com/deerfield-foundation
About Advancium Health Network
Advancium Health Network is a volunteer-driven 501(c)(3) charitable organization mission-focused on advancing human equity and accelerating innovation to improve health for people globally.
Advancium Health recognizes that a highly linked, more diverse community of healthcare innovators and providers is foundational to tackling health disparities, expanding treatment options, and finding cures, especially for rare diseases. The network is built to bring together people from academic medical centers, research universities, healthcare companies, start-ups, financial institutions, government, and nonprofit organizations. https://AdvanciumHealth.org