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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Portfolio Companies

Deerfield generally maintains a combined portfolio of more than 150 private and public investments across the life science, medical device, diagnostic, digital health and health service industries at all stages of evolution from start-up to mature company.

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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.

Events at the Cure

Drugs for Neglected Diseases Initiative (DNDi)

The Drugs for Neglected Diseases initiative (DNDi) is a not-for-profit medical research organization that discovers, develops, and delivers safe, effective, and affordable treatments for neglected people. DNDi is developing medicines for sleeping sickness, leishmaniasis, Chagas disease, river blindness, mycetoma, dengue, pediatric HIV, advanced HIV disease, cryptococcal meningitis, and hepatitis C. Its research priorities include children’s health, gender equity and gender-responsive R&D, and diseases impacted by climate change. Since its creation in 2003, DNDi has joined with industry, academia, government, and philanthropic partners across the globe to deliver 12 new treatments, saving millions of lives.

Second Annual $500,000 XSeed Award Launched by Deerfield Management to Support Underfunded and Underrepresented NYC Life Science Startups

Award recipients will receive a grant to help bridge neurodegeneration translational research to market.

November 03, 2021 10:17 AM Eastern Daylight Time

NEW YORK–(BUSINESS WIRE)–Deerfield Management Company, a New York City-based healthcare investment firm today announced its second annual XSeed Award, a program designed to support New York City early-stage life science, minority-led startups. This year’s XSeed Award will be granted to individuals working on neurodegeneration research development projects.

“Funding translational product development by underrepresented communities is critical to help spark innovation,” said James E. Flynn, Managing Partner at Deerfield. “Broader diversity allows for new and different vantage points to be incorporated into the innovation and startup community, and the varied perspectives indisputably create better ideas and solutions. NYC is one of the most diverse communities in the world, and so must be our early-stage life science community.”

According to Pitchbook, life science ventures led by women and minorities still face a substantial funding gap. Female founders in the U.S. raised only 2.2 percent of total venture capital funding in 2020 and funding to Black and Latinx founders equate to only 2.4% of capital raised from 2015 through August 2020.

The underrepresented scientists and entrepreneurs working on important healthcare projects in NYC are actively furthering discoveries but too often lack support to progress more cures for patients. Through fostering this community of individuals, NYC can help change the disease narrative of the Biotech Industry.

“The New York City Economic Development Corporation is overseeing the City’s $1 billion investment in life sciences, and for us it’s about breaking down barriers and creating equal opportunity in the field. We applaud Deerfield Management for its efforts to support minority-led life science research and early-stage ventures through the second XSeed Award program,” said Rachel Loeb, President and CEO at NYCEDC. “Now, underrepresented scientists and entrepreneurs can apply for much needed funding to help yield the discoveries and cures of tomorrow.”

Each year, the award is launched with a specific focus, selecting five teams that will be awarded a total of up to $500,000. Finalists present their work to a panel which includes: Claire Pomeroy, MD, President and CEO of the Albert and Mary Lasker Foundation; Nancy Thornberry, Founding CEO at Kallyope, Inc.; Elise Wang, Partner at Deerfield; Joseph Pearlberg, Vice President of Scientific Affairs at Deerfield, H.C. Huang, Senior Director, Deerfield Discovery and Development at Deerfield, and Jennifer Laird, VP, Search & Evaluation – Pain & Neurodegeneration at Eli Lilly.

The deadline for submission is January 7, 2022, and the winners will be announced in March. To learn more about the XSeed Award’s applicant eligibility criteria, visit www.xseedaward.com.

“Being recognized as a winner of the XSeed Award means more than just advancing my research and work, it has enriched my learnings and expanded my networking opportunities.” said Chandrabali Ghose-Paul, Founder and CEO of Bioharmony Therapeutics, a winner of the inaugural XSeed Awards in 2021. “Interacting with Deerfield and a group of my fellow recipients strengthens our fight against infectious diseases through knowledge and support.”

“The XSeed Award is what true executive sponsorship looks like,” remarked Ron Mitchell, CEO of Humanity Health, a career acceleration and talent sourcing platform for underrepresented healthcare leaders and entrepreneurs which is supported by Deerfield. “Sponsorship is about amplifying, connecting, endorsing and supporting leaders in their work. All four of those elements are deeply ingrained in this amazing opportunity provided by Deerfield.”

Deerfield created the XSeed Award in tandem with its development of Cure, the life science campus it built in partnership with New York City Economic Development Corporation (NYCEDC). The Cure campus at 345 Park Avenue South in Midtown Manhattan is bringing together innovators from academia, government, industry, and the not-for-profit sectors to advance human health and accelerate the fight against disease. Residents have access to move-in-ready laboratory space, engineering and computing space, as well as other amenities and support services.

ABOUT DEERFIELD

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.

Contacts
Media Contact:
Caroline Drucker
[email protected]

Deerfield Management Announces Winners of the First Annual XSeed Award

Grants will support five New York City-based early-stage life sciences startups, prioritizing historically underrepresented company founders

2021 XSeed Award focused on infectious diseases to continue to combat world health issues

(New York, NY, April 20, 2021)—Deerfield Management Company, a New York City-based healthcare investment firm, today announced the grant recipients of its XSeed Award, a new program designed to support early-stage life science startups. Each of the five New York City-based award winners, a majority of which were women or other underrepresented founders, will receive a $100,000 grant to further projects focused on infectious diseases.

The 2021 recipients of Deerfield’s inaugural XSeed Award are:

  • Dr. Chandrabali Ghose-Paul, Founder and CEO of Bioharmony Therapeutics, for her work with next-gen antimicrobial therapies for lethal, drug-resistant bacterial infections
  • Dr. Ashiwel Undieh, The City College of New York, for his work with platform nanotechnology for enhanced formulation and delivery of mRNA vaccines
  • Dr. Jonathan Lai, Albert Einstein College of Medicine, for his work with alphavirus-associated arthritis
  • Dr. Julie Magarian Blander, Professor of Immunology at Weill Cornell Medicine, for her work with pan-coronavirus vaccines
  • Dr. Andras Fiser, Dr. John Blanchard, Dr. Simone Sidoli, and Dr. Johanna Daily, all from  Albert Einstein College of Medicine, for their work to identify effective drug combinations for the treatment of K. pneumoniae

“This year has been unlike any other in so many ways, not the least of which is the unprecedented advancement of medical science,” said Joseph Pearlberg, MD, Ph.D., Vice President of Scientific Affairs at Deerfield. “Our inaugural group of XSeed Awardees will support some of New York City’s most talented researchers and scientists with a focus on developing cures for infectious diseases. As we begin to rebound from the pandemic, we cannot become complacent – support for new ideas and vaccines should remain a global priority.”

The XSeed Award was created by Deerfield as a result of the partnership announced in September 2019 between NYC Economic Development Corporation (NYCEDC) and Deerfield to develop the Cure life science campus. The 12-story vertical campus is bringing together innovators from academia, government, industry, and the not-for-profit sectors under one roof to advance human health and accelerate the fight against disease. Occupants will benefit from state-of-the-art laboratories, engineering and computing space, as well as amenities and support services.

“New York City has all the critical pieces to become a world-class life sciences hub, including diversity, and it’s imperative that we strategically support underrepresented minority groups to ensure equity throughout our efforts to grow the sector,” said NYCEDC Acting President Rachel Loeb. “Together with Deerfield, we are supporting early-stage entrepreneurs across all sectors and from all backgrounds. This critical financial support complements the services provided within the Cure campus and is a natural extension of our partnership.”

The Cure campus is part of LifeSci NYC, a $500 million commitment to establish New York City as a global leader in the life sciences. The opening of the Cure includes the relocation of Deerfield’s corporate headquarters to the site at 345 Park Avenue South in New York City (from its past location of 780 Third Avenue). With this endeavor, Deerfield has invested to create the transformative life sciences campus. In addition, Deerfield announced its programmatic efforts at the Cure, starting with a virtual lecture series led by experts covering topics, including COVID-19 Vaccine Confidence: Engaging with the Community for Improved Uptake and “Are you OK?” Having Conversations about Mental Health at Work.

“Congratulations to the recipients of the inaugural XSeed Awards! The Life Sciences is a growing industry in New York City, one that can help grow our economy and employment base as we recover from the pandemic. More importantly, we need to continue to ensure that these 21st Century job and entrepreneurship opportunities are inclusive, providing access to innovators from underrepresented communities. I look forward to seeing Deerfield’s initiatives and LifeSci NYC programs catapult New York City to the forefront of innovation and diversity in biotech,” said Councilwoman Carlina Rivera.

“The grants awarded to New York City-based life science startups will bring immense return on our investment. This is a tremendous step forward for developing the life science vertical campus as New York City becomes a global leader in advancing human health and fighting against diseases”, said Council Member Paul A. Vallone

Bridging the Critical Funding Gap

With a 20+ year commitment, the XSeed Award program will help address a critical funding gap, bridging promising translational research to marketplace and commercial success.

Each year, the award will have a specific focus with Deerfield selecting five teams that will be awarded a total of up to $500,000. Finalists presented their startups to a panel made up by: Claire Pomeroy, MD, President and CEO of the Albert and Mary Lasker Foundation; Nancy Thornberry, CEO at Kallyope, Inc.; James E. Flynn, Managing Partner of Deerfield; Elise Wang, Partner at Deerfield; and Joseph Pearlberg, MD, Ph.D., Vice President of Scientific Affairs at Deerfield, among others.

Importantly, in addition to receiving award funding, the winning teams will join a two-year cohort of their fellow awardees. The teams will be provided with peer-learning and office hours with leading investors, entrepreneurs, and business experts. Through the XSeed Award cohort, it is anticipated that these startups will bolster their network and significantly raise their visibility. Graduates of each cohort are expected to in turn serve as mentors and coaches for future cohorts, further strengthening the entrepreneurial community in New York City.

Deerfield’s Commitment to Promoting Equality

The life sciences sector is comprised of many mission-driven companies in fields like biotechnology, pharmaceuticals, biomedical technologies, medical devices, and biochemistry that work to translate scientific research into cures and treatments that save and improve lives.

However, funding for women and other minority-led life science research and ventures face a significant gap. Female founders raised only 2.3 percent of total venture capital funding in 2020. Black applicants are 10 percent less likely than whites to be awarded NIH Funding, and women of color, more broadly, have raised less than 1 percent of all venture capital funding since 2009.

With its rich history of developing and leading programs that support diversity, additional educational programming will continue, including Deerfield’s growing LifeSci NYC Fellows and Break into the Boardroom programs. In addition, in 2019 Deerfield introduced a new effort, Women in Science, focused on training women on how to commercialize their novel discoveries and create companies.

Deerfield announced in September 2019 that it intended to commit more than $2 billion in research and seed funding by 2030 to develop much-needed new and innovative medicines and treatment solutions. Deerfield expects this world-class infrastructure and funding will contribute to the prevention, cure or management of dozens of still deadly and debilitating diseases.

To learn more about the XSeed Award, visit www.xseedaward.com.

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

ABOUT CURE

An affiliate of Deerfield Management Company based in the heart of New York City, the Cure is a 12-story vertical innovations campus boasting laboratories, lecture, and office space, as well as technology and other amenities for physician-scientists/entrepreneurs across the life science industry, including academic institutions and other nonprofits, to accelerate their novel work. For more information, please visit https://cure.345pas.com/

Media Contact:

BerlinRosen

Erin Holin

917-232-0701

[email protected]

New Report Authored by Deerfield Management Reveals Vast Gender Gap Across Venture-backed Healthcare Companies

“Gender Disparity Among Venture-backed Healthcare Companies and Their Investor Base” finds that less than 1 in 8 board roles at privately backed healthcare companies are held by women. One of Deerfield’s initiatives to increase diversity in healthcare, this study aims to hold healthcare companies and investors accountable and encourage female representation.

(NEW YORK CITY, NY, April 6, 2021) – Deerfield Management Company (Deerfield), a healthcare investment management firm focused on advancing healthcare through investment, information and philanthropy, today released “Gender Disparity Among Venture-backed Healthcare Companies and Their Investor Base,” a paper that analyzes the gender composition of healthcare companies’ corporate boards, as well as that of the investment teams finding, diligencing and mentoring these companies.

In an analysis of 140 healthcare companies that had raised substantial venture financing and published the identity of their board members on their corporate website, Deerfield found that:

● 48.5% of companies had no female board members.
● Women make up about 10% of board director roles in venture-backed healthcare companies.
● Among the most active investment firms in the healthcare space, only about 20% of investment professionals are female.
● Of the six organizations analyzed that have 50% or more female board membership, all but one are helmed by female CEOs.

The paper’s authors, Christine Livoti, Director at the Deerfield Institute at Deerfield and Leslie Henshaw, Partner on the Healthcare Services team at Deerfield, set out to understand the gender composition of venture-backed healthcare companies that operate in the industry subsectors in which Deerfield invests.

Most of the research on diversity in leadership focuses on public companies that are required to report their diversity data. As such, information on private healthcare companies’ board composition is largely unavailable to the public. Livoti and Henshaw established a proprietary database of healthcare companies in the therapeutics, medical devices and diagnostics, healthcare information technology and healthcare services subsectors to identify the gender composition of their corporate boards.

The paper also examines the gender composition of the top 50 healthcare investors, based on the number of healthcare transactions in which they participated. Overall, women make up only about 20% of the investment professionals in this group of firms, and even this modest percentage likely overestimates the proportion of senior female investment professionals relative to their junior counterparts.

“Deerfield sits at the intersection of healthcare and investing, two spheres in which women are vastly underrepresented,” said Leslie Henshaw, Partner at Deerfield and co-author of the paper. “The findings of our report are unsurprising, but still deeply disappointing. With this research, our goal is to help our peers understand the considerable gender imbalance on their own teams is having a direct impact on the board composition of the companies they fund, increasing the imperative to seek out diverse independent board members. We are committed to elevating female and marginalized leaders across the healthcare ecosystem, increasing equity and accessibility throughout an industry in which the role of women – as caregivers, decision makers and patients – is so pronounced.”

Given the outsized role that investors play in board seat allocation and placement, the gender diversity of investment firms cannot be ignored in the context of gender diversity of private company boards.

“While gender composition of public companies, or even a broader swath of private companies agnostic of sector has been examined before, uniquely we examined the gender composition of private healthcare companies’ leadership and their investors,” said Christine Livoti, Director at The Deerfield Institute and co-author of the study. “We hope these findings will serve as a wakeup call for private companies in our industry to examine the gender composition of their leadership and work harder to diversify and grow more equitably across all levels of their organizations.”

The paper’s findings aim to hold companies and investors accountable, encourage greater female representation and advance initiatives for investors to diversify the portfolio companies in which they invest.

“Gender Disparity Among Venture-backed Healthcare Companies and Their Investor Base” is one of Deerfield’s several initiatives to improve representation in the healthcare ecosystem. Deerfield oversees Break into the Boardroom, a program that was launched in 2016 to help promote greater representation of female healthcare executives on boards within the public, private, and non-profit sectors. Break into the Boardroom provides senior female healthcare executives with training and guidance intended to help them obtain their first board role.

In the coming months, a programmatic effort will take place at the Cure, a 12-story vertical innovations campus in New York City, to dive deeper on this topic.

“We see significant value in the medtech industry and are excited to extend our investment in medtech with this newly formed partnership. Coridea’s track record makes its team an ideal partner to innovate, evaluate, and foster new ideas from concept to commercial enterprise,” stated Steve Hochberg, Partner at Deerfield. “As a New York-based firm, we are proud to partner with the team from Coridea as it brings innovative ideas and enterprise-building capabilities into the Cure ecosystem. This will serve to further establish the Northeast region and New York City as a center for healthcare innovation.”

Formed by proven industry leaders, the incubator will provide its companies with discipline and expertise in a collaborative ecosystem. Grounded by years of industry experience, the team will be able to efficiently move projects through key early-stage milestones including needs assessment, concept generation, rapid prototyping, and pre-clinical and clinical evaluation. Deerfield Catalyst will source new projects and companies through internal ideation and external collaboration with academic or individual partners.

“For sustainable commercial success, innovation must address a clear clinical need, whether it be streamlining a procedure to reduce cost or developing a novel intervention to treat more patients. At Deerfield Catalyst we plan to use agile best practices to efficiently advance promising clinical ideas and companies through the development lifecycle,” commented Howard Levin, M.D., CEO of Coridea and Chief Executive of Deerfield Catalyst. “We see a bright future ahead and are excited to become a critical part of the Cure healthcare ecosystem.”

The partnership aims to launch 10 new companies over the next five years. Structured to support company formation and growth, the incubator includes funding for operating expenses, early idea generation, and project and company evaluation. The medtech incubator hub and newly formed companies will be housed in the Cure building at 345 Park Avenue South in Manhattan.


ABOUT BREAK INTO THE BOARDROOM

Break into the Boardroom aims to promote greater representation of female healthcare executives on boards within the public, private, and non-profit sectors. Break into the Boardroom was founded by Deerfield and Oxeon based on a shared belief that their organizations are uniquely positioned not only to cultivate new female board candidates but also to connect these women with concrete governance opportunities. Deerfield and Oxeon focus on identifying talent, cultivating companies, and deploying capital within the healthcare ecosystem. For more information, please visit breakintotheboardroom.org.

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

CONTACT

BerlinRosen

[email protected]

Deerfield Management, UNC Eshelman School of Pharmacy Announce First Educational Collaboration

Deerfield and the UNC Eshelman School of Pharmacy will join forces to develop a training partnership to support the translation of scientific discovery to commercialization. The partnership will kick off with a seminar on April 16, 2021.

(NEW YORK CITY, NY, March 31, 2021) ––Deerfield Management Company (Deerfield), a healthcare investment management firm focused on advancing healthcare through investment, information and philanthropy, and the UNC Eshelman School of Pharmacy are thrilled to announce a first-of-its-kind educational-based collaboration that features a new certificate program and kick-off seminar. The certificate, micro-credential program, “Molecules to Market,” will be taught in tandem by academic and industry experts. The certificate program is specifically designed to support the translation of basic research and discovery along the path to commercialization.

The program’s introductory seminar, entitled “Molecules to Market – Overcoming the Valley of Death,” will be held via Zoom on Friday, April 16, 2021 from 9:00 am ET to 11:00 am ET. Registration is free and open to the public with the specific goal of discussing the key elements of any translational program.

“This type of educational-based collaboration is a new development for Deerfield as we continue to innovate and find new ways to advance healthcare,” said James E. Flynn, managing partner at Deerfield. “With this seminar and future certificate, we aim to leverage key learnings and analysis from previous case studies to highlight the steps required to translate a basic discovery to a medicine that will improve patients’ lives. To reach commercialization, the business plan is as important as the science itself, and we hope to educate those in the healthcare community and begin to address that gap.”

The seminar is designed for anyone with an understanding of basic science and a desire to understand both the industry and academic side of translating a discovery for patient benefit. The program aims to create a solution for entrepreneurs, leaders and scientists by creating a deep roster of professionals that understand how to move research through the long process to commercialization.

“Pharmaceutical and biomedical PhD scientists are increasingly involved in all aspects of drug development, but PhD training is almost exclusively focused on technical skills associated with bench science. Our collaboration with Deerfield will fill a much-needed gap by training on specific competencies required to advance discoveries to the market,” said Angela Kashuba, dean of the UNC Eshelman School of Pharmacy.

The UNC Eshelman School of Pharmacy is a world-renowned academic institution and is ranked the No. 1 school of pharmacy in the country by U.S. News & World Report in 2020. Together with Deerfield, the seminar will convene industry and academic leaders to share key insights through analysis of case studies and to discuss in detail what is necessary to move scientific discovery to commercialization.

Panelists include:

  • John Bamforth, PhD, Director Eshelman Institute for Innovation – Dr. Bamforth previously served as the vice president and chief marketing officer for a broad portfolio of therapeutics at Eli Lilly and Company. He now oversees The Eshelman Institute for Innovation, which aims to accelerate the creation and development of ideas leading to discoveries of new medicines and technologies.
  • James Flynn, Managing Partner, Deerfield Management – Jim has over 30 years in the healthcare investment industry and is responsible for the management of the Firm, building deep healthcare information expertise through the Deerfield Institute, expanding its investment capabilities to include venture and private structured financings; establishing the Deerfield Foundation to contribute toward the health and welfare of disadvantaged children; creating Deerfield Discovery and Development, LLC, which conducts Deerfield’s translational discovery research efforts; and founding a healthcare innovation center, Cure, at 345 Park Avenue South in New York City.
  • Michael Foley, PhD, Chief Executive Officer, Deerfield Discovery and Development, and Vice President of Translational Drug Development – Dr. Foley joined Deerfield in 2018 to focus on academic collaborations. Previously, he was the CEO of Tri-Institutional Therapeutics Discovery Institute (Tri-I TDI) where he led the efforts to discover drug candidates in an academic setting.
  • Stephen Frye, PhD, Fred Eshelman Distinguished Professor, Center for Integrative Chemical Biology and Drug Discovery Co-Program Leader, Lineberger Comprehensive Cancer Center, UNC Eshelman School of Pharmacy – Dr. Frye is a Fred Eshelman Distinguished Professor, Director of the Center for Integrative Chemical Biology and Drug Discovery, and Co-leader of the Molecular Therapeutics Program, Lineberger Comprehensive Cancer Center at the University of North Carolina in Chapel Hill.
  • Cam Wheeler, Ph.D, Partner, Deerfield Management -Cameron Wheeler, Ph.D., is a Partner on the Biotherapeutics group at Deerfield and joined the Firm in 2014. Prior to Deerfield, Dr. Wheeler worked for and on behalf of Eleven Biotherapeutics, Inc. as a director since 2009. Previous to that, Dr. Wheeler was Manager of the Business Development and Operations team at Constellation Pharmaceuticals, Inc. and a Senior Associate at Third Rock Ventures, LLC. Dr. Wheeler holds a Ph.D. and S.M. in Biological Engineering and an S.B. in Mechanical Engineering from the Massachusetts Institute of Technology.

The panel will be moderated by Dr. Michael Jarstfer, Assistant Dean for Graduate Education & Associate Professor at the UNC Eshelman School of Pharmacy. Dr. Jarstfer is the Director of the Graduate Studies for Pharmaceutical Sciences PhD Program at UNC. He will speak to the University of North Carolina’s commitment to advancing the translation of scientific discovery to commercialization.

Seminar attendees will have the opportunity to learn about the upcoming certificate program, which is expected to launch later this year, and discover a skillset that is both unique and vital within the healthcare ecosystem. The certificate plans to address the gap between academia and industry which has been known to reduce the speed and success of translational drug development.

This unique educational-based collaboration has been envisioned to further strengthen the Cure, a 12-story vertical innovations campus in New York City that Deerfield recently opened to develop leaders across the healthcare spectrum.

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.

About UNC Eshelman School of Pharmacy

The UNC Eshelman School of Pharmacy, based in Chapel Hill, N.C., is an internationally recognized leader in pharmacy practice, education, and research. We develop leaders in pharmacy education, pharmacy practice, and pharmaceutical sciences who make a difference on human health worldwide. The School is recognized as the No.1 school of pharmacy in the U.S. by U.S. News and World Report and is ranked No. 6 in the 2021 QS World University Rankings for the Best World Universities in Pharmacy and Pharmacology. For more information, visit pharmacy.unc.edu, or follow us on FacebookTwitter, and Instagram.

Contacts

BerlinRosen
[email protected]
Erin Holin, 917-232-0701

Coridea and Deerfield to Accelerate Medtech Innovation

Innovation Center Housed at the Cure in New York City

(NEW YORK CITY, NY, March 9, 2021) – Coridea and Deerfield Management Company (Deerfield) announced today a collaboration, Deerfield Device Design and Development Catalyst (Deerfield Catalyst), to advance medtech innovation and accelerate the formation of commercial companies. The initiative combines the resources of two established health pioneers: Coridea, a proven medtech incubator with a history of innovation, and Deerfield, a healthcare investment firm committed to advancing healthcare through investment, information and philanthropy, with over $14 billion in assets. Deerfield Catalyst will be a founding ecosystem member of the newly developed Cure building, a healthcare innovation and collaboration campus based in midtown Manhattan.

“We see significant value in the medtech industry and are excited to extend our investment in medtech with this newly formed partnership. Coridea’s track record makes its team an ideal partner to innovate, evaluate, and foster new ideas from concept to commercial enterprise,” stated Steve Hochberg, Partner at Deerfield. “As a New York-based firm, we are proud to partner with the team from Coridea as it brings innovative ideas and enterprise-building capabilities into the Cure ecosystem. This will serve to further establish the Northeast region and New York City as a center for healthcare innovation.”

Formed by proven industry leaders, the incubator will provide its companies with discipline and expertise in a collaborative ecosystem. Grounded by years of industry experience, the team will be able to efficiently move projects through key early-stage milestones including needs assessment, concept generation, rapid prototyping, and pre-clinical and clinical evaluation. Deerfield Catalyst will source new projects and companies through internal ideation and external collaboration with academic or individual partners.

“For sustainable commercial success, innovation must address a clear clinical need, whether it be streamlining a procedure to reduce cost or developing a novel intervention to treat more patients. At Deerfield Catalyst we plan to use agile best practices to efficiently advance promising clinical ideas and companies through the development lifecycle,” commented Howard Levin, M.D., CEO of Coridea and Chief Executive of Deerfield Catalyst. “We see a bright future ahead and are excited to become a critical part of the Cure healthcare ecosystem.”

The partnership aims to launch 10 new companies over the next five years. Structured to support company formation and growth, the incubator includes funding for operating expenses, early idea generation, and project and company evaluation. The medtech incubator hub and newly formed companies will be housed in the Cure building at 345 Park Avenue South in Manhattan.


ABOUT DEERFIELD DEVICE DESIGN AND DEVELOPMENT CATALYST

Deerfield Device Design and Development Catalyst (Deerfield Catalyst) is a medtech incubator that aims to support and advance transformational innovation into commercial products and successful enterprises. A collaboration between Deerfield and the Coridea team, Deerfield Catalyst is focused on developing medtech solutions that improve outcomes and streamline patient care. The incubator plans to launch 10 companies over the next five years. To learn more, please visit, www.dfcatalyst.com.

ABOUT CORIDEA

Coridea, is a proven medtech incubator that develops innovative solutions to address complex and costly unmet needs in healthcare. Led by Dr. Howard Levin, Mark Gelfand, Dr. Zoar Engelman and Adam Rosenwach, Coridea has launched several companies that focus on bridging the gap between patient care and medical device innovation. To learn more, please visit coridea.com.

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

MEDIA CONTACT

Carla Benigni

SPRIG Consulting LLC
847-951-7430

[email protected]

Deerfield Launches a Novel Funding Mechanism, the X-Seed Award, to Support Early-Stage Life Sciences and Underrepresented Company Founders

(New York, NY, December 22, 2020)—Deerfield Management Company, a New York City-based healthcare investment firm, today announced the launch of the X-Seed Award, a new program designed to support early-stage life science startups.  Award winners will be women and other minority founders in New York City.

The X-Seed Award was created by Deerfield as a result of the partnership announced in September 2019 between NYCEDC and Deerfield to develop the Cure life science campus, which is slated to open in January 2021. The 12-story vertical campus is bringing together innovators from academia, government, industry, and the not-for-profit sectors under one roof to advance human health and accelerate the fight against disease. Occupants will benefit from state-of-the-art laboratories, engineering and computing space, as well as other amenities and support services.

“As the City looks towards the future, we are committed to a recovery that puts equity at the center,” said James Patchett, President and CEO of New York City Economic Development Corporation. “The Deerfield X-seed Award is a major milestone towards achieving that goal. By supporting early stage entrepreneurs of all backgrounds, we can advance the City’s position as a leader in life sciences innovation for years to come.”

The X-Seed Award program, with a 20+ year commitment, will provide funding for a diverse population of the most talented researchers and entrepreneurs in New York City. It will help address a critical funding gap, bridging promising translational research to marketplace and commercial success.

Each year, the award will have a specific focus with Deerfield selecting five teams that will be awarded a total of up to $500,000. Finalists will have an opportunity to present their startups to a panel which includes: Claire Pomeroy, MD, President and CEO of the Albert and Mary Lasker Foundation; Nancy Thornberry, CEO at Kallyope, Inc.; James E. Flynn, Managing Partner of Deerfield; Elise Wang, Principal at Deerfield; and Joseph Pearlberg, Vice President of Scientific Affairs at Deerfield, among others. For 2021, given the state of the pandemic, the focus will be on infectious disease.

Deadline for submission is January 29,, 2021 and the winners will be announced in March. To learn more about the X-Seed Fund’s applicant eligibility criteria, visit www.xseedaward.com

In addition to receiving award funding, the winning teams will join a two-year cohort of their fellow awardees. The teams will be provided with peer-learning, and office hours with leading investors, entrepreneurs, and business experts. Through the X-Seed Award cohort, it is anticipated that these startups will bolster their network and significantly raise their visibility. Graduates of each cohort will in turn serve as mentors and coaches for future cohorts, further strengthening the entrepreneurial community in New York City.

The life sciences sector is comprised of mission-driven companies in fields like biotechnology, pharmaceuticals, biomedical technologies, medical devices, and biochemistry that work to translate scientific research into cures and treatments that save and improve lives.

However, funding for women and other minority-led life science research and ventures face a significant gap. Female founders raised only 2.3 percent of total venture capital funding in 2018. Black applicants are 10 percent less likely than whites to be awarded NIH Funding and women of color, more broadly, have raised less than 1 percent of all venture capital funding since 2009.

The X-Seed Award was designed to disrupt this trend to create a stronger, more equitable New York. “If we are to continue to make progress in the fight against disease, we must make supporting and mentoring New York’s most talented and diverse scientists a priority, laying the groundwork for future generations to come,” said Karen Heidelberger, Partner and Chief Partnership and Communications Officer at Deerfield. “I can think of no better way to do that than to create the X-Seed Award program. We look forward to this exciting journey, as New York becomes a leading life science capital.”

With its rich history of developing and leading programs that support diversity, additional educational programming will continue, including Deerfield’s growing LifeSci NYC Fellows and Break into the Boardroom programs. In addition, in 2019 Deerfield introduced a new effort, Women in Science, focused on training women on how to commercialize their novel discoveries and create companies.

The campus is part of LifeSci NYC, a $500 million commitment to establish New York City as a global leader in the life sciences. The opening of the Cure will include the relocation of Deerfield’s corporate headquarters to the site at 345 Park Avenue South in New York City (from its current location of 780 Third Avenue). With this endeavor, Deerfield has invested $635 million to create the transformative life sciences campus.

Deerfield announced in September 2019 that it intended to commit more than $2 billion in research and seed funding by 2030 to develop much-needed new and innovative medicines and treatment solutions. Deerfield expects this world-class infrastructure and funding will contribute to the prevention, cure or management of dozens of still deadly and debilitating diseases.

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

ABOUT CURE

An affiliate of Deerfield Management Company that’s based in the heart of New York City, the Cure is a 12-story vertical innovations campus boasting laboratories, lecture, and office space, as well as technology and other amenities for physician-scientists/entrepreneurs across the life science industry, including academic institutions and other nonprofits, to accelerate their novel work. For more information, please visit https://cure.345pas.com/

CONTACT
Karen Heidelberger, 212-551-1600, [email protected]

Manjushree Vidyapith School

The Manjushree Vidyapith School cares for and educates needy children from a vast area of the Northeast Himalaya, Indo-Tibet border. The organization’s focus is on the upliftment and protection of girls and differently abled children. The school reports that they place great emphasis on human kindness, compassion and love with a hope to inspire young people to act with a good heart, to become leaders in their communities and to help bring peace to the world.

The Magdi Yacoub Global Heart Foundation

The Magdi Yacoub Global Heart Foundation works to dramatically change the health outcomes of the most vulnerable, particularly children, by improving comprehensive, advanced cardiac care available to all people in need, free of charge.

The Family Center

The Family Center’s mission is to strengthen families affected by crisis, illness or loss to create a more secure present and future for their children. The Family Center offers evidence-based, trauma-informed social, legal, behavioral health and mental health services to New Yorkers and their families. Their team combines a keen business sense with a personalized approach, partnering with these families to plan their next steps and long-term solutions. Family Center trademarks are at-home visits and coordinated support strategies. Many client families are struggling with a severe trauma or loss. By staying with these families every step of the way, The Family Center builds stability, trust, and sustainable results. Staff work to provide immediate care and ensure a secure future for parents and children. Working with The Family Center, vulnerable NYC children and families stay stronger, longer.