Deerfield Management has added Empire Discovery Institute to its ever-growing roster of partners for its drug discovery engine.
Deerfield Management, the US-based healthcare investment firm, has signed up Empire Discovery Institute (EDI) to its therapeutics commercialisation initiative and expects to invest up to $65m over the next five years.
EDI is a non-profit drug discovery and development accelerator focused on bringing academic discoveries into the market. It collaborates with University of Rochester, University at Buffalo and Roswell Park Comprehensive Cancer Center.
Empire Deerfield Discovery & Development, the partnership is the latest in Deerfield’s initiative called The Cure.
Martin Graham, CEO of Empire Discovery Institute, said: “EDI was founded to help overcome the key challenges often faced by life science researchers in academia, namely a lack of external funding to advance pre-clinical development and access to pharmaceutical industry expertise to advance programs in an efficient manner to the clinic.
“Our partnership with Deerfield will enable us to accelerate our mission to identify medically important targets for human disease to facilitate the creation and development of novel, highly differentiated new therapeutics.”
