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

Genscience and Deerfield Management Announce Nature Publication Reporting Positive Impact of Genetic Evidence to Aid Discovery of More Effective Drug Targets

Probability of success for drug mechanisms with genetic support is 2.6 times greater than those without, according to new study

NEW YORK, April 17, 2024 Genscience LLC, a company applying genetic evidence and proprietary platforms for drug discovery and development and an affiliate of Deerfield Management Company (“Deerfield”), a healthcare investment firm, today announced a new study that shows incorporating genetic evidence into drug design significantly increases the probability of successful development by up to 2.6 times compared to when genetic evidence is absent. The new study appeared in the April 17, 2024 issue of the peer-reviewed journal Nature.1 The study also documents new findings regarding how different characteristics of genetic evidence impact drug development success.

“These findings further demonstrate that genetic evidence is the most effective means to improve drug discovery and development success rates and R&D efficiency,” said Matt Nelson, PhD, Chief Executive Officer of Genscience and Vice President of Genetics and Genomics, Deerfield Discovery and Development (3DC). “This new data helps illustrate the power of genetic evidence to enrich our understanding of the relationship between a potential drug target and the disease we seek to treat.”

The new study builds on pivotal work Nelson published in 2015 2 and documents which genetic associations are more likely to differentiate successful from unsuccessful drug mechanisms across 18 therapy areas and among five discovery and development phases from preclinical to launched. Nelson and his colleagues found that the probability of success for drug mechanisms backed by genetic evidence is 2.6 times higher than those lacking such support, with a four-fold increase in hematology and metabolic therapy areas.

“This study provides a basis for optimism, that we can improve the success rate in drug discovery,” said Eric Vallabh Minikel, PhD, first author of the study, and senior group leader at the Broad Institute. “Human genetics can point us to the root molecular causes of disease and enable us to design fundamentally disease-modifying therapies.”

Nelson acknowledges that although many questions remain about the application and effectiveness of human genetics in drug discovery, the field of genetics identifies causal relationships between genes and disease in humans, providing a growing opportunity for novel target identification and improving indication selection for existing drugs and drug candidates. Increasing emphasis on drug mechanisms with supporting genetic evidence is expected to increase success rates and lower the cost of drug discovery and development.

“The implications of this study are profound, offering a promising genetic-informed approach for biotechnology and pharmaceutical companies to improve their drug development strategies and increase the likelihood of bringing life-saving medications to market,” said James Flynn, Managing Partner, Deerfield Management. “These findings also demonstrate the meaningful discoveries that advance health and clinical trials that Deerfield, 3DC and Genscience are committed to supporting.”

1Minikel EV, Painter JL, Dong CC, Nelson MR. Refining the impact of genetic evidence on clinical success. Nature. 2024. DOI: 10.1038/s41586-024-07316-0.

2Nelson MR, Tipney H, Painter JL, et al. The support of human genetic evidence for approved drug indications. Nat Genet. 2015;47(8):856-860. doi:10.1038/ng.3314

About Genscience

Genscience, spun out of Deerfield Management Company and founded by Matthew R. Nelson, PhD, in 2023, is a platform and services company, developing state-of-the science genetics capabilities for the purpose of supporting drug discovery and development across disease areas.

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, visit www.deerfield.com.

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Genscience contact:

Matthew R. Nelson, PhD

[email protected]

Deerfield contact:

Rachel Pelletier

[email protected]

+1 202-778-1000

Invitae and Deerfield Management Partner to Create Novel Therapeutics for Rare Diseases

– The partnership will harness genetic and clinical data from millions of patients tested at Invitae and Deerfield's expertise in drug discovery to address high unmet needs among rare disease patients –

SAN FRANCISCO, March 22, 2023 /PRNewswire/ — Invitae (NYSE: NVTA), a leading medical genetics company, and Deerfield Management Company, a healthcare investment firm, today announced a partnership to advance genetics-based drug discovery and development in rare disease. The partnership will leverage genetics and clinical data from millions of patients and Deerfield’s broad drug discovery and development expertise.

“Invitae’s core objectives include expanding access to genetic information to improve healthcare for patients. Through this partnership, we intend to serve millions of families affected by rare diseases with high unmet needs,” said Farid Vij, general manager of patient network and data at Invitae. “Our genetic and clinical data platform is highly enriched with patients possessing rare disorders, enabling a deeper understanding of the natural history and genetic basis of these diseases, and improving the success rate of new clinical programs.”

“Despite significant research efforts, there are thousands of rare diseases without a line of sight toward a viable therapeutic intervention,” said Matt Nelson, head of genetics and genomics at Deerfield Management. “Invitae’s unique data and analytics capabilities position it to interrogate genetic effects on rare and many other diseases. With Deerfield’s extensive experience in rare diseases and drug discovery, we believe there is strong potential for this partnership to uncover valuable patient insights and create important therapies for a range of currently untreatable conditions.” 

Precision medicine offers great promise to address unmet needs of rare disease patients, but to be successful, scientists need access to focused genetic and clinical data across sizable patient populations. For rare diseases, these data are hard to find. For example, large scale genetic biobanks have been valuable for driving forward research, but they, at times, leave rare disease researchers searching for additional data on symptomatic and diverse patients. 

Invitae and Deerfield aim to address notable research gaps by drawing insights from Invitae’s data platform, which includes sizable cohorts of rare disease patients. The companies will collaborate to analyze data from the over 3.6 million genetic tests delivered by Invitae linked to longitudinal clinical data, strictly in accordance with patients’ preferences for sharing of their data. With these data and analytics expertise, together Invitae and Deerfield will be well-suited to uncover insights needed to discover and validate novel rare disease targets.

“Both large and small biopharma companies are constantly seeking ways to improve efficiency and success rates in their discovery and development programs. This partnership demonstrates how Invitae can support biopharma partners in discovering and validating new precision therapies,” said Daniel Anderson, head of patient network and data partnerships at Invitae. “Beyond the opportunity to deliver new medicines together with the Deerfield team, this partnership further substantiates the many ways our unique datasets and analytical capabilities can create value.” 

About Invitae
Invitae (NYSE: NVTA) is a leading medical genetics company trusted by millions of patients and their providers to deliver timely genetic information simplified by digital technology. With accurate and actionable answers to strengthen medical decision-making, Invitae gives individuals and their families powerful, personalized insights that could improve and extend their lives. Invitae’s genetics experts apply a rigorous approach to data and research, serving as the foundation of their mission to bring comprehensive genetic information into mainstream medicine to improve healthcare for billions of people.

To learn more, visit invitae.com and follow for updates on Twitter, Instagram, Facebook and LinkedIn @Invitae.

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, visit www.deerfield.com.

Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the company’s goals with respect to the partnership; the intended structure and potential benefits of the partnership; the company’s intentions regarding the number of families that the partnership will serve; the company’s beliefs regarding the capabilities of its data platform; the company’s beliefs that the partnership may uncover valuable patient insights and create important new therapies; and the company’s belief that this partnership demonstrates how its unique datasets and analytical capabilities can create value. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially, and reported results should not be considered as an indication of future performance. These risks and uncertainties include, but are not limited to:  the impact of inflation and the current economic environment on the company’s business; the company’s ability to grow its business in a cost-efficient manner; the company’s history of losses; the company’s ability to maintain important customer relationships; the company’s ability to compete; the company’s need to scale its infrastructure in advance of demand for its tests and to increase demand for its tests; the applicability of clinical results to actual outcomes; risks associated with litigation; the company’s ability to use rapidly changing genetic data to interpret test results accurately and consistently; security breaches, loss of data and other disruptions; laws and regulations applicable to the company’s business; and the other risks set forth in the company’s filings with the Securities and Exchange Commission, including the risks set forth in the company’s Annual Report on Form 10-K for the year ended December 31, 2022. These forward-looking statements speak only as of the date hereof, and Invitae Corporation disclaims any obligation to update these forward-looking statements.

Invitae PR contact: 
Amy Hadsock
[email protected] 
(628) 213-3283

Deerfield PR contact: 
Caroline Drucker
[email protected] 
(917) 588-3016

Deerfield Management and BioSymetrics partner to discover and develop novel therapeutics

Collaboration to advance cardiology and neurology targets using phenomics and genomic data to improve human health

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]

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 Closes $840 Million Healthcare Venture Fund

The Deerfield Healthcare Innovations Fund ll will invest in advancements in science for promising therapeutics and to improve ways healthcare is delivered to patients

(New York, NY, April 6, 2020)—Deerfield Management Company, L.P. today announced the closing of the Deerfield Healthcare Innovations Fund ll, L.P., which will invest in advancements in science that may lead to important therapeutic interventions and back new technologies and infrastructure to improve the way healthcare is delivered to patients.

“Now more than ever, these unprecedented times underscore the importance of supporting the critical work of our nation’s scientists and healthcare systems,” said James E. Flynn, managing partner of Deerfield. “Our uniquely supportive model allows us to provide leverage to innovative companies and accelerate the benefit to patients.”

The Healthcare Innovations Fund II will collaborate with more than 15 leading academic institutions to seed novel scientific research. The Fund also has access to innovative medtech incubators created in partnership with two medical device industry leaders.

The Cure, the recently announced innovation campus located at 345 Park Avenue South, will become the central location of Deerfield where much of the work of the Healthcare Innovation Fund II will take place. Many of the early-stage companies will utilize the Cure’s wet and dry labs, engineering, computing and shared resource spaces.

The companies will also benefit from on-site programming, including the Fellows Program, Break into the Boardroom and Women in Science. Newly curated programs to be featured involve the “Cure Lounge,” a thought leadership and executive club, and other educational and certification initiatives.

The Deerfield Healthcare Innovations Fund ll is supported by the entire Deerfield infrastructure. 

Deerfield has been investing in and supporting the healthcare industry for more than 25 years, and partner companies benefit from its organizational capabilities.

Today, Deerfield has more than 130 experienced healthcare-focused professionals with specialized knowledge in medicine, life sciences, drug and medical device development, healthcare markets, public policy, value-based care, financial instruments, tax, accounting, operations, corporate strategy, market access research, marketing, biostatistics and sector dynamics, all of which can be leveraged by its partners.

Together, Deerfield team members fully fund and manage the Deerfield Foundation, which to date has committed or invested over $49 million to global organizations seeking to improve the delivery of healthcare, with a focus on underserved children. The Deerfield Foundation recently committed approximately 10 percent of its 2020 fiscal budget toward COVID-19 emergency funding to organizations in need of urgent resources in order to provide care to their communities.


About Deerfield Management 

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

Contact:

Media
Deerfield Management
Karen Heidelberger, 212-692-7140
[email protected]

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Deerfield Management Advanced Healthcare Initiatives Globally Through Academic Collaborations, Publications, and Philanthropy

In addition to advancing healthcare through investment, Deerfield’s efforts through information and philanthropy have an unprecedented year

New York, NY – February 6, 2019 – Deerfield Management advanced healthcare initiatives globally in 2018 through five new academic collaborations, eight scientific publications, and 22 philanthropic partnerships. Deerfield’s intent is to participate in large scale efforts to enrich patients’ lives with early stage discovery support, novel peer-reviewed insights, and investments that can help tackle the issues affecting healthcare today.

Deerfield Academic Collaborations

In 2016 Deerfield began collaborating with academic institutions to create partnerships that provide funding and support to early stage therapeutics. Since then, Deerfield has developed nine companies across eight states developing expeditious pathways from concept to commercialization for novel therapeutic discoveries and one incubator focused on innovative cardiovascular devices.

Anticipating commitments of over $500 million in early stage research by 2021, Deerfield is uniquely positioned to support all stages of development from early stage to commercial opportunity. This capability has the potential to eliminate the hurdles researchers would face in finding new capital during this rigorous trajectory to the marketplace.

Deerfield Institute

Deerfield Institute’s research capabilities and survey analyses sparked the need to begin publishing its scientific findings for the greater good. Since 2015, the Deerfield Institute has published 50 articles,editorials, and abstracts. Whether it is identifying predictors of laparoscopic hysterectomy among leiomyoma patients or exposing the variability in the therapeutic management of advanced ovarian cancer patients, the publications are weighted in scientifically driven research and analysis and leverage the knowledge interpreted by Deerfield’s team of healthcare focused researchers.

“We have a sense of responsibility to share our insights and equip our ecosystem with the high quality, novel information required to accelerate and improve healthcare,” stated Alexis Cazé, partner and chief information officer at Deerfield. “Through collaboration, we ultimately increase the greater potential of improvement in the healthcare system.”

Deerfield Foundation

Since inception the Foundation has committed or invested approximately $40 million to 39 philanthropic partners that impact healthcare for children and families from underserved communities. In 2018, the Foundation reached 11 countries with 77% of its annual funding directed towards services,goods, and outreach, 12% to infrastructure and 11% to R&D.

The Foundation has recently been exploring new models and is increasingly interested in designing granting programs with measurable impact.Whether this means pay-for-performance or key performance indicators, creating business models that lead to a self-funding business can result in self-sustaining organizations that can thrive in any philanthropic environment. “Deerfield realized the importance of exploring pay-for-performance models by pioneering our Results Based Financing for Community Health pilot,” stated Lisa McCandless from Living Goods. “Since Deerfield’s commitment, Living Goods has propelled to the forefront of this initiative globally and continues to share its learnings and findings with the broader community.”A list of our academic collaborations from 2016 to 2018 are below:

  1. Center for Protein Degradation with Dana-Farber Cancer Institute
  2. Pinnacle Hill with the University of North Carolina at Chapel Hill
  3. Poseidon Innovation with UC San Diego
  4. Lakeside Discovery with Northwestern University
  5. Ancora Innovation with Vanderbilt University
  6. Academic collaboration with Broad Institute of MIT and Harvard
  7. Bluefield Innovations with the Johns Hopkins University
  8. Bridge Medicines with Memorial Sloan Kettering Cancer Center, the Rockefeller University, and Weill Cornell Medicine
  9. Vescor with the University of Texas MD Anderson Cancer Center

A sample of the peer reviewed publications, reviews and abstracts published in 2018 are listed below:

  1. A Hybrid Approach for Prediction of Event Times in Double-Blind Clinical Trials. Ming Zhu, Yunnan Xu, Zheng Su. Joint Statistical Meeting 2018
  2. Predictors of laparoscopic hysterectomy for leiomyoma surgical removal in the United States. Kate Busko, Mark Stuntz. Value in Health / ISPOR
  3. Analysis of Success Rates for the Center for Medicare and Medicaid’s New Technology Add-On Payment Program. Alexandra Truglio, Christine Livoti. Value in Health / ISPOR
  4. Trends in isolated mitral valve surgery: the changing risk profile of patients and outcomes. Andrew Elbardissi, Mark Stuntz. European Society of Cardiovasculaire and Endovasculaire Surgery International Congress 2018
  5. The importance of emerging transcatheter mitral valve technologies in cost-effectiveness and post-procedure outcomes. Andrew Elbardissi, Mark Stuntz. European Society of Cardiovasculaire and Endovasculaire Surgery International Congress 2018
  6. Impact of adverse media reporting on public perceptions of the doctor-patient relationship in China: an analysis with propensity-score matching. Jing Sun, Shiyang Liu, Qiannan Liu, Zijuan Wang, JunWang, Cecile Jia Hu, Mark Stuntz, Jing Ma, Yuanli Liu. BMJ Open, August 2018
  7. Potential role of emerging percutaneous mitral technologies in patients undergoing TAVR. Andrew ElBardissi, Mark Stuntz. JACC, September 2018
  8. Futility stopping in non-inferiority trials. ZhengSu, Mark Stuntz. Contemporary Clinical Trials Communications, December 2018.


In 2018, the Deerfield Foundation invested in the following projects with its philanthropic partnerships:

  1. Children’s Health Fund. Deerfield Child and Family Health Clinic and New York Program,providing high quality, comprehensive and compassionate patient-centered healthcare for underserved children and families.
  2. Coalition for the Homeless. Child Advocate to assist homeless families in New York City.
  3. Covenant House. Wellness center support: medications/supplies, mental health services,and staff training on mental health and best practices.
  4. Jacaranda Health. Support launch of a “nurse mentor training center” to build a pipeline of public sector maternity nurse champions and improve obstetric care in Kenya.
  5. Last Mile Health. Continue scale-up of Liberia’s National Community Health Assistant Program, cost-effectiveness study in Grand Bassa County and launch of the Community Health Academy’s first online, free, digital training course for community health system leaders.
  6. Little Sisters of the Assumption Family Health Service. Environmental Health Services Program and Maternity Outreach Program.
  7. Living Goods. Digital optimization of business practices – enabling transformational scale for community health.
  8. Lwala Community Alliance. Every child: strengthening health systems to reduce maternal and child mortality.
  9. Many Hopes. Provide physical and mental healthcare as well as a nutritious diet for orphans and abandoned children in its rescue homes and school.
  10. Medic Mobile. Scaling digital health tools for improved community-level care coordination in Nepal.
  11. Mifanmama. Eye Care Outreach Program.
  12. Muso. Proactive care delivery: rigorous implementation of research to save lives and support Mali’s National Community Health Worker scale-up.
  13. Northside Center for Child Development. Expand Northside’s capability to treat mental health issues in children age five and under.
  14. Partners In Health (Zanmi Lasante). Operating costs for Zanmi Beni Children’s home.
  15. Possible. Designing and scaling accessible, integrated healthcare solutions for underserved communities in Nepal.
  16. Réseau Des Entrepreneurs Solidaires. Deerfield RES Madagascar: support approximately 31 medical centers and dispensaries run in Madagascar.
  17. St.Boniface Haiti Foundation. Materials and staffing for the pediatric services ward of the St. Boniface Hospital in Fond des Blancs, Haiti.
  18. Sustainable Health Enterprises. Initial funding of SHE28’s technological innovations to produce go! pads for girls and women.
  19. The Family Center. Training and certification of six clinical staff members in Parent Child Interaction Therapy.
  20. The Mott Haven Academy. PNP services and medical clinic support, and contributions to establish and develop adolescent health programming in its middle school.
  21. The Water Trust. Scaling-up the Self-Help Group Program and publishing findings to provide children in East Africa safe water and healthy homes.
  22. Village Health Works. Equipping the pediatric and maternity unit of the Kigutu Hospital and Women’s Health Pavilion.

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 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]