NEW YORK– APRIL 9, 2024 – Cure.®, a healthcare innovation campus in New York City, has opened applications to the XSeed Award, an annual competitive program designed to disrupt the status quo by supporting traditionally underfunded and underrepresented minority- and women-led life science and healthcare startups working on drug development in New York City. Deerfield Management, a New York City-based healthcare investment firm, founded and supports the XSeed Award.

In 2024, two winning teams will become eligible to receive up to $250,000 each. They also will join the Cure ecosystem with their fellow awardees to receive entrepreneurshipmentoring and networking designed to help them move promising translational research to the marketplace and commercial success. The deadline for XSeed Award application submissions is May 31, 2024, and virtual finalist presentations will be June 28, 2024. The program will announce winners on Sept. 2, 2024, and they will receive honors at an official ceremony at Cure in October 2024. 

“The XSeed Award is designed to bring equity and diversity to life science and healthcare innovation, where ongoing barriers critically impact the cures developed for underserved communities and the careers of scientists from underrepresented communities. For example, Black and female scientists remain significantly less likely than their white or male colleagues to receive three or more NIH research grants, a threshold that academic institutions prioritize for faculty hires and retention,[i]” said James E. Flynn, Managing Partner at Deerfield and Cure Founder. “Deerfield is pleased to continue our collaboration on the transformational XSeed program, alongside the NYCEDC, Cure and the experts who comprise our enthusiastic XSeed Award Leadership Committee.”

In addition to advancing their research, the 2024 cohort of X-Seed Award winners will enhance their entrepreneurial skills, networks and visibility via the Cure ecosystem. Graduates of each cohort will then serve as mentors and coaches for future cohorts, further strengthening the entrepreneurial community in New York City.

“The Cure ecosystem of industry, investment and innovation experts is an ideal setting to mentor XSeed Award winners and hone their business knowledge to help their life science and healthcare achievements,” said Seema Kumar, CEO of Cure. “We look forward to welcoming the XSeed Award winners who, along with the Cure Xchange Challenge winners, are startups advancing health through collaboration and community building via Cure.”

Deerfield and the New York City Economic Development Corporation launched the XSeed Award as a yearly program in 2020 to provide funding to help address critical funding gaps for the diverse population of most talented researchers and entrepreneurs in New York City.  Advancium Health Network, an independent non-profit organization launched by Deerfield Management and dedicated to advancing healthcare and health equity, has helped operationalize the XSeed Awards since 2022.

“The XSeed Award program aims to break down barriers and create equal opportunity in the life sciences sector by supporting minority- and women-led research and early-stage ventures to help yield the medicines of tomorrow,” said New York City Economic Development Corporation (NYCEDC) Chief Strategy Officer Cecilia Kushner. “As Cure’s ecosystem expands, the XSeed Award program will continue to help establish New York City as both a premier and inclusive hub for the life sciences industry. We are thrilled to be working alongside Deerfield and Cure again to support this important effort.”

XSeed Leadership Committee 

Finalists will present their work to an esteemed panel comprised of the XSeed Award Leadership Committee, which includes Joseph Pearlberg, MD, PhD, Vice President of Scientific Affairs at Deerfield and committee co-chair; Claire Pomeroy, MD, President and CEO of the Albert and Mary Lasker Foundation; Christine Brideau, Head of Preclinical Pharmacology, Deerfield Management; Glennis Mehra, Ph.D., Director of Biolabs@NYULangone; and Jane Williams, MD, MPH, Vice President, head of Neuroscience, Rare Disease and Pediatrics at Syneos Health.

To learn more about the XSeed Award’s applicant eligibility criteria and to submit applications, visit https://wewillcure.com/xseed-award

About XSeed

Deerfield created the XSeed Award program in September 2019 through a partnership with the New York City Economic Development Corporation (NYCEDC) to aid the development of the Deerfield-founded healthcare innovation campus Cure. Deerfield and NYCEDC launched the XSeed Award in December 2020, with the first cohort of winners announced in April 2021.

Since its inception, the XSeed program has helped fill early-stage funding gaps within the life sciences industry by identifying and supporting promising translational research and commercial opportunities of underrepresented and underfunded startups, financially and through a mentorship cohort. To learn more about the XSeed Award, visit https://wewillcure.com/xseed-award.

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 Cure.^®
Cure is a healthcare innovation campus in the heart of New York City that features laboratory and business facilities, a collaboration residency, office space and premium event venues, including an education center, conference center, and iconic rooftop facility, as well as tools, mentoring, networking, and other assistance to members of its ecosystem. Cure houses on-campus startup and established companies. Residents regularly create synergies and collaborative partnerships with peer organizations across the spectrum of healthcare, from academic or private to non-profit or government, and focus on diagnostic, device, drug or vaccine discovery, development and production as well as care delivery and public health. Cure also offers industry-leading event programming focused on critical health topics. Cure’s mission is to foster and accelerate advances in health. For more information, please visit wewillcure.com.

Cure Media Contact:
Caroline Drucker
[email protected]
(917) 588-3016

[i] Nguyen M, Chaudhry SI, Desai MM, Dzirasa K, Cavazos JE, Boatright D. Gender, Racial, and Ethnic and Inequities in Receipt of Multiple National Institutes of Health Research Project Grants. JAMA Netw Open. 2023;6(2):e230855. Published 2023 Feb 1. doi:10.1001/jamanetworkopen.2023.0855.

New York, New York, – January 16, 2024  Washington University in St. Louis and Deerfield Management (“Deerfield”), a healthcare investment firm, today announced the launch of VeritaScience, a new private R&D collaboration designed to advance the discovery, clinical development and commercialization of promising therapeutic and diagnostic candidates with potential to benefit human health. 

To support projects that originate from the collaboration, Deerfield has committed up to $130 million over the next 10 years, along with functional expertise, through a newly formed company. Washington University’s investigators will have the opportunity to work with Deerfield’s internal team, which has expertise across the drug development continuum from discovery through commercialization. VeritaScience is named to honor Washington University’s motto “Per Veritatem Vis,” which means “Strength Through Truth” in Latin.

The VeritaScience collaboration complements the university’s existing efforts in drug development and its innovative culture. Project proposals can be designed around any disease indication. Washington University’s investigators will submit project proposals to VeritaScience and its scientific review team, which is led by Deerfield experts and guided by the university’s Office of Technology Management and Washington University School of Medicine’s (“WashU Medicine”) business development team. Accepted drug discovery projects will receive a development plan aimed at achieving Investigational New Drug readiness and may be eligible for additional funding and support for the creation of separate, start-up companies.

Washington University is known worldwide for its innovative research programs in the medical sciences, aimed at improving human health. The university currently is ranked #7 in National Institutes of Health (NIH) funding among U.S. universities, with $633 million received in the 2023 federal fiscal year. This includes nearly $584 million in funding for research initiatives at WashU Medicine, which currently is ranked #2 in NIH funding among U.S. medical schools.

“The exciting collaboration with Deerfield Management to create VeritaScience represents yet another major approach to leveraging the research capabilities of Washington University,” said David H. Perlmutter, MD, the George and Carol Bauer Endowed Dean of Washington University School of Medicine, executive vice chancellor for medical affairs, and the Spencer T. and Ann W. Olin Distinguished Professor. “Deerfield has extensive experience in academic-industry partnerships, and this agreement allows us to further advance the ‘virtuous cycle of academic medicine’ and our commitment to translating ever more of the landscape-altering discoveries happening in our labs into tools and therapies that will concretely improve human health and alleviate suffering.”

The VeritaScience collaboration is an example of Deerfield’s engagement with research institutions. Currently, Deerfield’s network includes nearly 30 leading research institutions and medical centers, which aims to bring the healthcare ecosystem together to collaborate and learn from each other. Together with its research partners, Deerfield has provided funding and expertise to create spin-off companies that support key avenues from concept to spin-out of novel therapeutic discoveries.

“Throughout the process of forming VeritaScience, what has stood out to our team at Deerfield is the forward-thinking and innovation-focused Washington University culture,” said James Flynn, managing partner of Deerfield. “We intend to equip the researchers of selected projects with flexible capital, expertise, and operational support to help them realize their discoveries’ potential.”

ABOUT WASHINGTON UNIVERSITY

Washington University in St. Louis is counted among the world’s leaders in teaching, research, patient care and service to society. The university draws students and faculty to St. Louis from more than 100 countries and all 50 states, the District of Columbia, Guam, Puerto Rico and the Virgin Islands. The total student body is approximately 14,000 undergraduate, graduate and professional students. Washington University has been affiliated with 25 Nobel laureates, many of whom did a significant portion of their award-winning work at the university. The university offers more than 90 programs and almost 1,500 courses leading to bachelor’s, master’s and doctoral degrees in a broad spectrum of traditional and interdisciplinary fields, with additional opportunities for minor concentrations and individualized programs.

WashU Medicine is a global leader in academic medicine, including biomedical research, patient care and educational programs with 2,800 faculty. Its National Institutes of Health (NIH) research funding portfolio is the second largest among U.S. medical schools, has grown more than 40% in the last six years and, together with institutional investment, WashU Medicine commits well over $1 billion annually to basic and clinical research innovation and training. Its faculty practice is consistently within the top five in the country, with more than 1,800 faculty physicians practicing at over 65 locations and who are also the medical staffs of Barnes-Jewish and St. Louis Children’s hospitals of BJC HealthCare.

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:

Anthony Karamourtopoulos

[email protected]

Diane Duke Williams

[email protected]

NEW YORK, NEW YORK – June 8, 2023 – Deerfield Management and the Deerfield Foundation announced today the creation of the American Society of Hematology (ASH) Peter Steelman Scholar Award and the first Annual AML Summit in honor of former, longtime Deerfield Partner Peter Steelman. Both efforts aim to further advance research for Acute Myeloid Leukemia (AML).

The 2022 inaugural recipient of the ASH Peter Steelman Scholar Award is Simone Riedel, Ph.D. who will be a keynote speaker at the AML Summit. Dr. Riedel currently serves as a doctoral fellow at The Children’s Hospital of Philadelphia’s Bernt Lab, as part of a team of researchers focused on investigating the role of epigenetic gene regulation in hematopoietic stem cells and their relation to leukemia. More specifically, Dr. Riedel works on a protein called Meningioma-1 (MN1) that, when overexpressed, causes a highly aggressive AML.

The first annual AML Summit will be held on Tuesday, June 13 at Cure®, a healthcare innovation campus in New York City.

Guest speakers at the inaugural AML Summit will include:

• Omar Abdel-Wahab, M.D., Director of the Center for Hematologic Malignancies at Memorial Sloan Kettering;
• Lore Gruenbaum, Ph.D. | Vice President, Therapy Acceleration Program;
• Ross Levine, M.D., Leukemia Specialist & Physician-Scientist, at Memorial Sloan Kettering Cancer Center, Chair of The AML Summit;
• Alicia Loffler, former Executive Director of the Innovation and New Ventures Office at Northwestern University;
• Simone Riedel, Ph.D., Children’s Hospital of Philadelphia;

• Ulrich Steidl M.D., Ph.D., Chair of Cell Biology and co-director of the Blood Cancer Institute at Albert Einstein College of Medicine;
• Aaron Viny, M.D., Cancer Care, Hematology at Columbia​.

Each year there are approximately 18,000 new cases of diagnosed AML, with about 126,000 diagnosed prevalent patients per year in total. The AML Summit will bring together thought leaders from across the healthcare ecosystem to advance scientific research and bring us closer to a cure.

About the ASH Peter Steelman Scholar Award

Designed by Deerfield Management and Deerfield Foundation in partnership with ASH, the ASH-Peter Steelman Scholar Award supports exceptional academic research efforts focused on AML, and is part of ASH’s Scholar Award program. For many researchers, the period between the completion of training and the establishment of an independent career can be a perilous and uncertain time. Since 1985, the ASH Scholar Award program has helped ease this difficult transition by providing support during that critical period required for the completion of training and achievement of status as an independent investigator.

Dr. Riedel and future recipients of the award will receive an extensive benefits package from the Deerfield Foundation, including:

• Complete funding support to participate in the American Society of Hematology (ASH) Annual Meeting.
• A yearly invitation and a travel stipend to participate in Deerfield Management’s AML Summit.
• A designated research presentation slot at the AML Summit.
• Biannual meetings with Deerfield Management’s Oncology Working Group, a team of oncology-focused colleagues spanning science and investment.
• Ongoing collaboration with Deerfield Management personnel that focuses on the translation of innovation to a commercially viable therapeutic.
• (For female recipients), ongoing access to Deerfield and Advancium Health Networks Women in Science Translational Research Symposia.

About Peter Steelman

The award was named in honor of former Deerfield Management Partner, Peter Steelman, who will always be remembered as a genuinely kind person who accepted everyone on their own terms. He was a hard worker and a great team player. Peter was devoted to supporting his family (his wife Sara and three boys, Grant, Trent and Kurt) and ensuring they had every opportunity that he could provide. Peter enjoyed going to the beach, running and keeping fit, traveling, and spending time in New York City. While at Deerfield, he was instrumental in the creation of Deerfield’s academic network, which today spans nearly 30 of the country’s most prestigious institutions. Peter will always be missed and forever remembered.  

“We are proud to offer this award in memory of former friend and Deerfield colleague, Peter Steelman, who, throughout his life and career, was a passionate advocate of Deerfield’s mission to advance healthcare,” said Jim Flynn, Managing Partner of Deerfield Management and Cure® Founder. “We thank ASH for its partnership and are honored to name Dr. Riedel as the first recipient. We hope our support of the field will bring us closer to a cure for this difficult and painful disease.”

About The 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.

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

Caroline Drucker

[email protected]

917-588-3016

Published Jan. 4, 2023

By Kelly Bilodeau

Early-stage drug development typically comes with a heaping side of financial risk. As a result, promising academic research discoveries can languish in the uncertain R&D stages because there is no commercial funding to prove their market potential. Increasingly, nonprofits are stepping in to fill this gap, backing new ideas and bringing them to a point where pharma companies are willing to invest and carry them past the regulatory finish line.

Read More Here

NEW YORK, NEW YORK – Nov. 29, 2022 – Deerfield Management Company, a New York City-based healthcare investment firm and Advancium Health Network, a public charity dedicated to advancing healthcare services and health equity through philanthropic investment, announced today the third annual XSeed Award, a program designed to support early-stage life science, minority- and women-led startups in New York City. A change from previous award seasons, this year, two life science startup companies will each be awarded up to $250,000.

“We are excited to continue the XSeed Award program this year, alongside the NYCEDC and our enthusiastic team of board members,” said James E. Flynn, Managing Partner at Deerfield and Cure Founder. “In just our third year, it has already been extremely rewarding to see the program winners progress.”

Finalists will present their work to an esteemed panel that includes: Claire Pomeroy, M.D., President and CEO of the Albert and Mary Lasker Foundation; Elise Wang, Partner at Deerfield; Jenny Laird, VP, Search & Evaluation, Neuroscience at Eli Lilly; Joseph Pearlberg, M.D., Ph.D., Vice President of Scientific Affairs at Deerfield and H.C. Huang, Ph.D., Senior Director, Preclinical Pharmacology, Deerfield Discovery and Development at Deerfield; Nancy Thornberry, Founding CEO at Kallyope.

The deadline for submission is January 16 and virtual finalist presentations will be on March 2, 2023. The winners will be announced on April 3 during the award ceremony at Cure®. To learn more about the XSeed Award’s applicant eligibility criteria and to submit applications, visit www.xseedaward.com. 

The XSeed Award program was established by Deerfield in 2019 and made possible through a partnership with the New York City Economic Development Corporation (NYCEDC) to aid the development of the Deerfield-founded life sciences campus, Cure. Since its inception, the XSeed program has helped fill early-stage funding gaps within the life sciences industry by identifying and supporting promising translational research and commercial opportunities, financially and through a unique mentorship cohort.

In addition to the financial support, the winning teams will receive access to Cure’s networking ecosystem and campus, which includes move-in ready laboratory and office space, and other critical amenities tailored to physician-scientists and industry-focused entrepreneurs.

“The XSeed Award program addresses multiple factors critical to bolstering a thriving life sciences ecosystem in New York, and we are thrilled to be working alongside Deerfield again, to support this important effort,” said NYCEDC President and CEO Andrew Kimball. “As the Cure ecosystem expands, this program will continue to help establish New York as both a premier and inclusive hub for the life sciences industry.”

Former XSeed Award winner, Shardule Shah, PhD, MBA, who currently serves as Chief Executive Officer and Co-Founder of Lime Therapeutics, said of the program: “Receiving the XSeed Award by Deerfield was a pivotal event in our company’s young history. The cash prize is a tremendous benefit, but equally valuable is the mentorship we have received from the Deerfield team as we advance our novel therapeutics toward the clinic. It helps to get expert guidance from people that have been there before. Understanding the technical roadmap we need to execute in order to pair with our business milestones was one of the key learnings we received during our mentorship meetings. These learnings have helped shape our company’s long-term strategy. The entire XSeed Award committee truly cares about supporting startups, especially those from underrepresented backgrounds and looking to build within New York City. We are incredibly grateful for the difference that receiving the XSeed Award has meant for our company and we encourage all who are eligible to apply.”

About the XSeed Award

The XSeed Award program will help address a critical funding gap, bridging promising translational research to marketplace and commercial success. Each year Deerfield Management and a panel of industry experts select up to two teams that will be awarded up to $250,000 each. Importantly, in addition to receiving award funding, the winning teams will join a cohort of their fellow awardees. Each winning team has diverse members including women and other underrepresented minorities. 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. To learn more about the XSeed Award, visit www.xseedaward.com.

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:

Caroline Drucker

[email protected]

(212)-582-8296

NEW YORK, NEW YORK — Oct. 31, 2022 – Deerfield Management, a healthcare investment firm, and BioSymetrics, a phenomics-driven drug discovery company, today announced a five-year joint venture to accelerate the advancement of new therapeutics, with an initial focus on cardiovascular and neurological diseases. The collaboration will identify new drug discovery programs that combine BioSymetrics’ AI-powered target discovery and validation platform with Deerfield’s drug discovery and commercial modeling capabilities.

“BioSymetrics’ platform creates proprietary and highly valuable insights into biology that can help identify novel therapeutics,” said James Flynn, Managing Partner, Deerfield Management and Cure Founder. “Our collaboration focuses on complex conditions in cardiovascular and neurological disease where BioSymetrics’ data and analytical capabilities can be particularly important.  We are excited about the breakthroughs possible through this partnership.”

BioSymetrics takes a phenomics-driven approach to advancing drug discovery. The company’s target discovery platform uses machine learning to connect clinical and experimental data – including patient data from millions of electronic medical records, genomics, and experimental data captured in zebrafish models using proprietary computer vision – to identify high-confidence targets for drug discovery. Targets discovered using BioSymetrics’ platform are grounded in human genetic evidence, giving them twice the likelihood of clinical success as demonstrated in the seminal paper by Matt Nelson, VP Genetics & Genomics at Deerfield Management. BioSymetrics is advancing programs in cardiometabolic, neurological, and rare diseases, including familial dilated cardiomyopathy, atherosclerosis, and epilepsy.

“Deerfield shares our philosophy of using human genetic evidence and rapid in vivo validation in target discovery,” said Anthony Iacovone, Co-founder and CEO. “For a prolific target discovery platform like ours, Deerfield’s strengths in drug discovery and healthcare expertise ensure that together we can aim to focus on the programs with the highest probability of success and drive forward the best science. We are enthusiastic to begin this effort and work together with Deerfield in translating complex clinical and experimental biology into actionable therapeutic development programs.” 

Under the terms of the agreement, Deerfield and BioSymetrics will identify therapeutic targets using BioSymetrics’ platform and database. Deerfield will provide target product profiles and due diligence support, commercial modeling services, and drug development plans and infrastructure for projects that the parties decide to advance.

About Deerfield Management

Deerfield Management 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 BioSymetrics

BioSymetrics is a phenomics-driven drug discovery company with a vision to translate data into discoveries. BioSymetrics integrates clinical and experimental data, using machine learning, to translate human disease biology and advance precision medicines. For more information, please visit www.biosymetrics.com or follow us on LinkedIn.

Media:

Caroline Drucker

+1 212.583.8296

[email protected]

Denise Johnston

[email protected]

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

Contacts

Eden Zaslow
212-300-1800
[email protected]

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]

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 21^st 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]