Deerfield Discovery and Development (3DC)

Researchers at academic institutions discover many of the novel insights that advance our understanding of disease. Commercially promising innovations eventually outgrow the lab, requiring greater resources and more focused development expertise than an academic setting can typically provide. To address this need, Deerfield has pioneered a model of partnership with academic institutions, which creates the potential for rapid funding and advancement of promising therapies. Partner institutions today include: Yeda, the commercial arm of the Weizmann Institute of Science; Duke University; Columbia University; Northwestern; Harvard; Vanderbilt; Johns Hopkins; Dana Farber; the Broad Institute; University of North Carolina-Chapel Hill; University of California-San Diego; and the University of Illinois at Chicago. In addition, Deerfield has a combined association with Rockefeller University, Cornell and Memorial Sloan Kettering Cancer Center through their joint discovery unit, the TDI; and, finally, Deerfield has a project-specific collaboration with MD Anderson Cancer Center.

Deerfield Discovery and Development (3DC) plays a critical role in progressing early-stage therapeutics from scientific discovery through preclinical proof of concept and into the clinic, via design and execution of relevant experiments. 3DC partners closely with principal investigators in Deerfield’s academic collaboration network, corporate partners and entrepreneurs to provide deep functional expertise and experience across key disciplines. These include:

  • Genetic Assessment and Insights
  • Chemistry
  • In Vitro Pharmacology
  • Translational Biology
  • Drug Metabolism and Pharmacokinetics
  • Safety Assessment
  • Chemistry, Manufacturing, and Controls (CMC)
  • Clinical & Regulatory
  • Project Management

Funding models

Deerfield tailors flexible financing options designed to meet the needs of its corporate partners most optimally. Some of our funding options include:

  • Growth capital
  • Venture Capital
  • R&D Financing
  • Start-up capital
  • Drug discovery and development
  • Corporate acquisition
  • Product Acquisition
  • R&D capital
  • Refinancing

CURE.

At CURE. — Deerfield’s innovation campus on 345 Park Avenue South — we’re transforming healthcare. Here, innovators from across the industry and around the world work shoulder to shoulder to develop treatments to eliminate deadly diseases and create new healthcare delivery models to lower cost and improve care for those in need.

For CURE. inquiries, please email us

Deerfield Management Brings Together Scientists, Entrepreneurs and Leading Companies to Form the New York-Based Healthcare Innovation Campus

$635 million in real estate and multi-disciplinary laboratory infrastructure will combine with multi-billion dollar investments in research to transform the battle against disease

NEW YORK, NY, September 26, 2019—In a major move, Deerfield Management Company, L.P.  is investing $635 million to create a transformative life sciences campus in New York City, designed to integrate the capabilities of innovators from academia, government, industry and the not-for-profit sectors to tackle unmet needs in healthcare. Deerfield additionally announced that it intends 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 to contribute to the prevention, cure or management of dozens of still deadly and debilitating diseases.  

As the foundation of this bold undertaking, Deerfield has acquired the 345 Park Avenue South property, which boasts more than 300,000 square feet. The site, designated a NYCLifeSci campus, will bring together scientists, entrepreneurs and leading organizations from around the world to work shoulder-to-shoulder to conceive of and develop new treatments and better ways to prevent and defeat disease. The campus will provide turnkey laboratories, and engineering and computing space, as well as other amenities and supportive services.  

“We are proud to be part of a community of people in New York who strive to save and extend lives. Creating an environment in which innovative thinking, ground-breaking advances in scientific discovery and where the development of new paradigms of patient care will occur every day is tremendously exciting,” said James Flynn, Managing Partner of Deerfield.  

“We are thrilled that our partnership with Deerfield will not only create quality jobs for New Yorkers but will also help provide a home for emerging companies to develop breakthrough scientific discoveries. New York City already has the best research institutions in the world. By investing in this Life Sciences campus to bring new lab space and programming for healthcare and early-stage biotech companies, we can strengthen the City’s position as a global leader in life sciences,” said NYCEDC President & CEO James Patchett.

The $540 million in financing for the acquisition and renovation of this world-class facility was led by Blackstone Real Estate, which has been a strong supporter of life sciences.  

Nadeem Meghji, Senior Managing Director, Head of Real Estate Americas at Blackstone said, “We are thrilled to finance this important project, which will advance life sciences research in New York City. With our investment in BioMed Realty, and elsewhere across our businesses, life sciences is among our highest priority investment sectors. We look forward to continuing to support the growing demand for research and innovation.”

The building construction and programming is being backed by the New York City Economic Development Corporation and Industrial Development Agency. It is expected to be in move-in ready condition for Deerfield and other innovators in healthcare by early 2021.

Due to obstacles, including a lack of capital and siloed approaches, promising new therapies and improvements in care management frequently fail to make it to patients. In addition to leveraging the value of public and private organizations in developing solutions, the Deerfield innovation campus will pursue all forms of technology, including digital, medical device and biotherapeutic approaches.  

“Many leaders have come together to build this incredible ecosystem, capable of accelerating the fight against disease. This campus should create the ideal backdrop to advance innovation,” said Alex Karnal, Partner and Portfolio Manager at Deerfield. “We are grateful to our partners, including the New York City Economic Development Corporation and Blackstone, as without them, this ambitious project might not have been possible.”

Having proven its ability to mobilize innovators in this space, MATTER, a healthcare focused incubator, in collaboration with Deerfield, will be supporting startups of all stages within the innovation campus.  MATTER has developed extensive specialized programs to train C-suite executives in the early stages of their career and to introduce young companies to established organizations for mentorship, collaboration and potential acquisition.  Combined with Deerfield’s operating support capabilities which extends to legal, finance, information technology, human resources, and market research, among other skillsets, companies formed within the campus will have unparalleled access to capabilities of the highest quality at low cost.

“Deerfield’s expertise and resources, combined with MATTER’s capabilities and experience, will create a healthcare and life sciences campus unlike any other,” said MATTER CEO Steven Collens. “We are thrilled to be a part of this endeavor to help entrepreneurs and innovators develop technologies and solutions that will improve the healthcare experience.”

Along with new educational programming being developed—and to complement the services provided by MATTER—Deerfield also announced that it will be growing its existing Deerfield LifeSci NYC Fellows and Break into the Boardroom programs. Deerfield additionally introduced a new initiative, Women in Science, focused on training women on how to commercialize their potentially lifesaving discoveries and create companies. The investment company has a rich history of developing and leading programs supporting diversity.

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
[email protected]

Columbia University and Deerfield Management Launch Hudson Heights Innovations

Deerfield commits up to $130 million to accelerate drug discovery at Columbia

(New York, NY, June 5, 2019)—Columbia University and Deerfield Management, a healthcare investment firm, today announced the creation of a major research and development alliance. The collaboration is intended to advance the translation of biomedical discoveries into transformative treatments for improved quality of life and cures for disease.

Through a newly launched company called Hudson Heights Innovations, up to $130 million of initial funding will be made available to back the initiative over 10 years by Deerfield and its partners. In addition, Deerfield will provide development expertise in support of innovative drug research across a span of high-need therapeutic areas, as well as those targeting patients who suffer from hard-to-treat and rare diseases. 

With the Columbia side led by Columbia Technology Ventures, the alliance is expected to catalyze the development of novel therapeutics out of the research labs of Columbia University and accelerate these discoveries toward clinical validation in patients.

“Much of our research is aimed at understanding at the molecular level how diseases develop and how we can intervene with drugs or other therapeutics,” said Lee Goldman, MD, Dean of the Faculties of Health Sciences and Medicine and Chief Executive of Columbia University Irving Medical Center. “The goal of our alliance with Deerfield is to shepherd those discoveries into clinical development as rapidly as possible and create new therapies that improve the lives of patients.” 

Each year, Columbia University researchers create more than 400 scientific inventions, which ripen into over 200 new patent applications, over 100 licenses to industry, and over 20 new intellectual property-backed startups. These inventions eventually save and improve the lives of people around the world, and the revenue generated flows back to the inventors and university to help catalyze new research breakthroughs in the future. 

“The life science inventions emerging from Columbia’s research labs are often incredibly promising, with a high potential for making a transformative impact on human health.  However, basic scientific research needs validation in preclinical and clinical-stage development before it can make a difference in patients,” said Orin Herskowitz, executive director of Columbia Technology Ventures. “Beyond the funding itself, the drug development, commercialization and operational expertise provided by Hudson Heights Innovations will hopefully ensure that more of these inventions make a positive impact in society, as quickly as possible.” 

Starting this fall, Columbia researchers will have the ability to submit proposals on projects for consideration by a Hudson Heights Innovations committee comprising scientific leadership representing both Columbia and Deerfield.  Accepted projects will include a development plan aimed at achieving Investigational New Drug (IND) readiness. Deerfield will provide funding and operational support for accepted projects, and successful projects that achieve IND-enabled status may be eligible for additional capital from Deerfield. 

“We hold Columbia’s research enterprise—a city in itself of preeminent research centers and institutes—in the highest regard. And we believe that New York City is on its way to becoming a leading life science capital and the perfect venue for our collaboration with Columbia, as we collectively seek to develop new medicines to address unmet medical needs,” said James E. Flynn, managing partner at Deerfield. “The Columbia investigators will have Deerfield’s support to expedite the drug development cycle, which we expect will allow patients to receive treatments faster and physician-scientists more time to turn their attention to the next discovery.”
Under the terms of the agreement, Hudson Heights Innovations would receive an option to license Hudson Heights Innovations-funded intellectual property developed at Columbia.

About Columbia University

Among the world’s leading research universities, Columbia University in the City of New York continually seeks to advance the frontiers of scholarship and foster a campus community deeply engaged in understanding and confronting the complex issues of our time through teaching, research, patient care and public service. The University is comprised of 16 undergraduate, graduate and professional schools, and four affiliated colleges and seminaries in Northern Manhattan, as well as a wide array of research institutes and global centers located in major cities around the world. More than 40,000 accomplished students, award-winning faculty and professional staff define the University’s underlying values and commitment to pursuing new knowledge and educating informed, engaged citizens. Founded in 1754 as King’s College, Columbia is the fifth oldest institution of higher learning in the United States.

About Deerfield Management

Deerfield is a healthcare investment management firm committed to advancing healthcare through investment, information and philanthropy. 

Contact

Connolly Jurkiewicz, [email protected], 212-854-3576
Karen Heidelberger, [email protected], 212-551-1600 

UIC and Deerfield Management launch West Loop Innovations to foster development of new therapeutics

CHICAGO, IL, and NEW YORK, NY, APRIL 23, 2019—The University of Illinois at Chicago and Deerfield Management announced today the establishment of West Loop Innovations, LLC. The company will help accelerate the commercialization of therapeutics developed at UIC. Deerfield will provide up to $65 million in translational research funding and commercialization expertise to advance promising UIC discoveries.

“One of our core competencies at UIC is drug discovery,” said TJ Augustine, Interim Vice Chancellor for Innovation at UIC. “We have three major drugs in the marketplace, placing UIC among a very small number of research universities. Our new partnership with Deerfield not only adds significant translational research funding, but also brings critical support for the startup companies that will take UIC’s discoveries and turn them into products.”

The UIC-Deerfield partnership is also a major development for the new University of Illinois System-led Discovery Partners Institute (DPI). UIC faculty projects supported by Deerfield will advance the DPI’s health and wellness efforts. Once constructed, these efforts may be pursued at the DPI-supported Drug Discovery and Innovation Pavilion on the UIC campus and at the permanent DPI headquarters to be built in Chicago, bringing together researchers, students and industry to pursue new, innovative therapeutics.

“West Loop Innovations together with the establishment of the Discovery Partners Institute will provide the resources and expertise to accelerate drug discovery and develop our already robust drug pipeline,” said University of Illinois President Tim Killeen. “UIC has exceptional expertise in identifying new drug targets and therapeutics, and our collaborative partnership with Deerfield will help get more of those discoveries out into the marketplace.”

Starting this fall, UIC researchers will be able to submit proposals for projects to be supported by West Loop Innovation. Projects will be approved by a joint committee made up of members from UIC and Deerfield’s scientific leadership team.  Accepted projects will receive a development plan, resources to achieve Investigational New Drug (IND) readiness and operational expertise. Successful projects will have access to additional Deerfield capital, which is designed to eliminate the need for researchers to raise additional funds to bring their ideas to market.

“Our new partnership with Deerfield Management will help further establish UIC as a top academic research institution and leader in translational medicine,” said UIC Chancellor Michael Amiridis. “We are looking forward to working with Deerfield to nurture and commercialize new therapeutics that will improve people’s lives around the world.”

“UIC’s research capabilities have been magnified by the launch of its Discovery Partners Institute, creating a strong platform for the identification and acceleration of therapeutic discovery,” said James E. Flynn, Managing Partner at Deerfield Management.  “We are delighted to enter into this partnership with UIC to advance novel scientific insights made on its campus and to speed new medicines to patients with critical unmet needs.”

About the University of Illinois at Chicago Office of Technology Management

The UIC Office of Technology Management works with faculty, staff, and students to advance research, education and economic development. One of its primary functions is to assist in the licensing of innovations. The office currently manages 281 active licenses, including 34 with startup companies. UIC has three major drugs on the market today, including Prezista, an anti-HIV drug sold by Janssen Therapeutics; Tice BCG, a bladder cancer drug in the Merck portfolio; and Shingrix, a vaccine against the shingles virus approved by the FDA in 2017 and marketed by Glaxo Smith Kline. UIC OTM has a proven track record of successful licensing with an estimated revenue of over $40 million in 2019 and over $200 million in income in the past decade.

About Deerfield Management

Deerfield is a healthcare investment management firm committed to advancing healthcare through investment, information and philanthropy.

Contacts

Sharon Parmet, [email protected], 312-413-2695  
Karen Heidelberger, [email protected], 212-551-1600

Harvard and Deerfield establish Lab1636, a major translational research alliance

Deerfield commits $100M to inject fuel into translational life science research at Harvard

Cambridge, Mass. – March 13, 2019 – Harvard University and Deerfield Management, a healthcare investment firm, have established a major strategic R&D alliance to speed the development and translation of biomedical and life-science innovations into transformative treatments that can improve life, health, and medical care. Through a newly launched company called Lab1636, Deerfield has committed an unprecedented $100 million in initial funding to support the alliance.

Spearheaded by Harvard Office of Technology Development (OTD), the alliance is expected to catalyze the development of novel therapeutics and rapidly drive innovations toward clinical validation.

“We envision the Harvard-Deerfield collaboration as a powerful means to fuel translational research across the University, enabling promising innovations to advance beyond their laboratory roots,” said Harvard Provost Alan M. Garber.

“By working with an alliance partner who is prepared to support early-stage research and to invest in the success of pre-clinical and clinical-stage commercial development, we’re enhancing the opportunities for Harvard’s life-changing innovations to reach patients in need,” added Isaac T. Kohlberg, Senior Associate Provost and Chief Technology Development Officer at Harvard. “Success in a research alliance requires a partner with a long vision and operational and development expertise, as well as the financial resources, and we’re delighted to launch this initiative with Deerfield.”

A private company wholly owned by affiliates of Deerfield, Lab1636 will support Harvard R&D projects throughout various stages of drug discovery and development, for example enabling studies to explicate the biology of disease, validate therapeutic targets, or achieve a proof-of-concept necessary for filing an Investigational New Drug (IND) application.

“Harvard is an outstanding partner for an alliance,” said James E. Flynn, Managing Partner at Deerfield. “The University’s outstanding science, breadth of technologies, and mix of esteemed junior and senior faculty constitute a fertile environment for the continuous generation of novel insights. This, in combination with its experience advancing potential therapeutics, makes it the perfect place to establish an impactful translational partnership.”

At any research university, the most commercially promising innovations eventually outgrow the lab bench, requiring greater resources or more focused development than an academic setting can provide. In addition to funding research on campus, Lab1636 may facilitate licenses to outside companies and is equipped to provide substantial support to the launch and growth of new startups dedicated to developing Harvard technologies.

“The sheer scope of this collaboration with Deerfield may prove transformative for Harvard research,” said Vivian Berlin, Managing Director, Strategic Partnerships in OTD. “This alliance has immense potential to bridge the development gap, ensure continuity of resources, and complement our other major translational programs, such as the Blavatnik Biomedical Accelerator.”
Kohlberg added, “We hope that our R&D alliance with Deerfield will further sustain and speed the commercialization of innovations from across the University toward societal impact.”

Harvard’s R&D projects to be funded by Lab1636 will be selected by a joint advisory committee, and the projects will be initiated by principal investigators from labs across the University. The projects will generally focus on the development of novel therapeutics, ideally advancing many to a stage that would enable the filing of an IND application and, if successful, the commencement of clinical trials in patients.

About Harvard Office of Technology Development

Harvard’s Office of Technology Development (OTD) promotes the public good by fostering innovation and translating new inventions made at Harvard University into useful products that are available and beneficial to society. Our integrated approach to technology development comprises sponsored research and corporate alliances, intellectual property management, and technology commercialization through venture creation and licensing. More than 70 startups have launched to commercialize Harvard technologies in the past 5 years, collectively raising more than a billion dollars in financing. To further bridge the academic-industry development gap, Harvard OTD manages the Blavatnik Biomedical Accelerator and the Physical Sciences & Engineering Accelerator. For more information, please visit https://otd.harvard.edu.

About Deerfield Management

Deerfield is a healthcare investment management firm committed to advancing healthcare through investment, information and philanthropy.

Contacts

Harvard Office of Technology Development
Caroline Perry, 617-495-4157
[email protected]

Deerfield Management Company
Karen Heidelberger, 212-551-1600
[email protected]

Stelexis Therapeutics Closes $43 million Series A to Expand Novel Platform Focused on Cancer Interception

Stelexis is a Deerfield founded and solely funded company

New York, NY – January 7, 2019 – Stelexis Therapeutics, LLC announced that it closed a $43 million Series A financing to expand its proprietary platform to discover and selectively target pre‐cancerous stem cells. Deerfield established Stelexis in 2017 together with scientific founders, Ulrich Steidl, Evripidis Gavathiotis, Amit Verma, and Roman Perez‐Soler of Albert Einstein College of Medicine, Montefiore Health, New York and Derrick Rossi of Boston Children’s Hospital, Harvard Medical School. Patrick Doyle serves as the founding CEO, and Keren Paz is the CSO of Stelexis.

Stelexis’ proprietary drug discovery platform identifies the earliest definable pre‐cancerous stem and progenitor cells that lead to the formation of human primary and recurrent tumors for therapeutic intervention and relapse prevention. Stelexis’ mission is to develop novel cancer drugs that selectively target these critical pre‐cancerous events related to both hematopoietic and solid malignancies.

“The ability to identify, isolate, study and screen rare pre‐cancerous stem cells, from within bulk tumors, is an enormous breakthrough that has the potential to change how cancer patients are treated” stated Dr. Steidl. “Our thesis is that targeting cancer at its very origin should not only be effective as first line therapy, but should also lead to long‐lasting remission for patients,” said Dr. Rossi, who, prior to co‐founding Stelexis, has also co‐founded numerous other successful biotechnology companies.

Utilizing Deerfield seed funding and operational support since 2017, Stelexis has established its labs in Albert Einstein College of Medicine facilities, hired key management and is poised to deliver clinical trial data that validate its platform using the proceeds of this Series A round.

“We are thrilled to announce the formation and funding of Stelexis, which has the platform technology to explore the role pre‐cancer conditions play in cancer development and recurrence. The team has an outstanding track record and we look forward to a stream of transformative cancer medicines,” stated Dr. Robert Jackson, director at Stelexis and partner at Deerfield Management.

“Deerfield’s holistic approach to forming, funding and providing operational support to Stelexis has been instrumental in creating a leadership position in a novel targeted approach to treating cancer,” said Patrick Doyle, CEO of Stelexis. “With these funds we are now positioned to execute on our potential to transform patients’ lives.”

About Stelexis

Stelexis is a New York‐based cancer therapeutics company, utilizing its proprietary platform to selectively target pre‐cancerous stem cells to discover and develop transformative therapies.

For more information, please visit www.stelexis.com

About Deerfield

Deerfield is an investment management firm committed to improving healthcare through investment, information and philanthropy.

For more information, please visit www.deerfield.com

Contacts

Deerfield Management Company
Karen Heidelberger
212‐551‐1600   
[email protected]

Stelexis Therapeutics
Patrick Doyle
[email protected]

Dana-Farber Cancer Institute and Deerfield Collaborate to Create the Center for Protein Degradation

  • The Center for Protein Degradation will build upon the work of Dana-Farber researchers Nathanael Gray, PhD and Eric Fischer, PhD
  • Deerfield Commits up to $80 million as well as Operational and Managerial Support

Boston, MA and New York, NY – November 13, 2018 – Dana-Farber Cancer Institute and Deerfield Management announced today an up to $80 million collaboration to create the Center for Protein Degradation at Dana-Farber. The goal of the Center for Protein Degradation is to interrogate and advance a large portfolio of advanced targeted protein degrader targets while creating a next-generation protein degrader platform. The platform will utilize knowledge created while interrogating the targets and will continue to advance the science of targeted protein degradation of additional members of the proteasome for therapeutic benefit.

The new Center for Protein Degradation will be led by Dr. Nathanael Gray and Dr. Eric Fischer, both world-renowned scientists, while operational support, management expertise and initial funds will be contributed by Deerfield. Additional funding for therapeutic targets will be provided by Deerfield upon successful proof-of-concept studies.

Current targeted protein degraders work by directing a protein of interest to the proteasome where it is broken down into smaller polypeptides. Protein degradation serves multiple purposes and can be used to interrogate basic biology or eliminate a protein that is implicated in disease initiation or progression from a cell for an extended period of time. This approach may provide more robust therapeutic effects due to complete elimination of protein function as compared to classical small molecule protein inhibitors that target a particular catalytic activity. The Center for Protein Degradation will focus on development of efficient approaches for discovering and optimizing new small molecule degraders and in identifying the biological targets most tractable for this approach.

The Center for Protein Degradation will solicit collaborations from the Dana-Farber and Harvard Medical School community to explore degradation concepts across a wide range of targets and disease settings. Projects will move through a tiered system from proof of concept, to validation in preclinical models and towards clinical development.

“We are excited about exploring the promise of protein degradation with Deerfield and appreciate the substantial commitment it is making to this enterprise,” said Laurie H. Glimcher, MD, president and CEO of Dana-Farber. “This new Center for Protein Degradation will be a critical focal point in a vibrant community of accomplished scientists and investigators.”

“In creating the Center for Protein Degradation, we can advance science and identify multiple novel therapeutics targeted at ending cancers. We are thrilled to be collaborating with Dr. Gray, Dr. Fischer and the entire Dana-Farber team in this first of its kind collaboration,” stated James Flynn, managing partner at Deerfield.

“Protein degradation is potentially a key to unlocking cures for cancer,” commented William Slattery, partner at Deerfield. “The examination of targets with this expertise will create a pathway that goes beyond the normal confines of drug development.”

Paul Hastings, LLP acted as legal counsel to Deerfield. Dana-Farber Cancer Institute was represented by Wolf, Greenfield and Sacks, P.C. and McDermott Will & Emery.

About Dana-Farber

From achieving the first remissions in childhood cancer with chemotherapy in 1948, to developing the very latest new therapies, Dana-Farber Cancer Institute is one of the world’s leading centers of cancer research and treatment. It is the only center ranked in the top 4 of U.S.
News and World Report’s Best Hospitals for both adult and pediatric cancer care.

Dana-Farber sits at the center of a wide range of collaborative efforts to reduce the burden of cancer through scientific inquiry, clinical care, education, community engagement, and advocacy. Dana-Farber/Brigham and Women’s Cancer Center provides the latest in cancer care for adults; Dana-Farber/Boston Children’s Cancer and Blood Disorders Center for children. The Dana-Farber/Harvard Cancer Center unites the cancer research efforts of five Harvard academic medical centers and two graduate schools, while Dana-Farber Community Cancer Care provides high quality cancer treatment in communities outside Boston’s Longwood Medical Area.

Dana-Farber is dedicated to a unique, 50/50 balance between cancer research and care, and much of the Institute’s work is dedicated to translating the results of its discovery into new treatments for patients locally and around the world.

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

Dana-Farber Cancer Institute
Ellen Berlin, 617-632-4090
[email protected]

Deerfield Management Company
Karen Heidelberger, 212-551-1600
[email protected]

Deerfield and Stan Rowe Create a Next Generation Therapeutic Device Incubator, NXT Biomedical

Up to $275 million committed to the development of cutting edge technologies.

New York, NY and Irvine, CA – September 20, 2018 – Deerfield Management and Stan Rowe announce the creation of a next generation therapeutic device incubator, NXT Biomedical. NXT Biomedical expects to invest up to $25 million in cutting edge technologies over the next 5 years.  Deerfield has allotted up to an additional $250 million for the formation and development of five to eight startup companies that emerge from the incubator. 

NXT Biomedical will develop and advance novel therapeutic devices in diseases with significant unmet needs.  Using innovative medical technology development processes, the incubator is designed to develop and de-risk technologies in a highly capital efficient manner.

Prior to cofounding NXT Biomedical, Stan Rowe was Chief Scientific Officer at Edwards Life sciences.  At Edwards, Stan developed and led the Advanced Technology group, which is focused on rapid device iteration, novel research and projects to enhance the pipeline of the Edwards patient-focused innovation portfolio and discovery efforts.  In his new role, Stan will continue as a consultant to Edwards.

“I am thrilled to be leading this incubator with a broad mandate for development of varying types of therapeutic devices, which brings together the expert skill sets of the founding contributors and provides an environment for creativity, innovation and professional management. I have worked with Edwards over the last several months to ensure a smooth transition from my role as CSO at the company to my next chapter leading NXT Biomedical, and I believe this collaborative effort engaging many bright and experienced innovators may spark the success of many technologies,” stated Stan Rowe, CEO of NXT Biomedical.

Stan will be joined by Robert Schwartz, MD, an interventional cardiologist who has been a prominent inventor as well, and a team of experienced engineers with unique expertise in early stage device design and development. 

Andrew ElBardissi, MD, Principal at Deerfield said, “In an era of dwindling medical device early stage investment, we continue to see major unmet needs that can be optimally treated with next generation medical technologies.  We are elated to join Stan and his team to develop and advance clinically meaningful devices that are poised to improve outcomes and reduce cost to the healthcare system.”

Steve Hochberg, Partner at Deerfield said, “NXT Biomedical provides an exciting new pathway for exceptional science to be incubated with the world-renowned leadership of Stan Rowe and Robert Schwartz, MD.  In addition, given some of the therapeutic areas of interest to NXT Biomedical, we are also exploring potential collaborations with unnamed strategic partners.  As we advance these opportunities, we are looking forward to supporting each project with financial, operational and managerial expertise.”

NXT Biomedical is based in Irvine, California at the Cove @ UCI Applied Innovation.

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, 212-692-7140
[email protected]