Northwestern is the third US university, after Vanderbilt and Johns Hopkins, to team up with Deerfield Management for an investment fund.

Northwestern University and healthcare-focused investment firm Deerfield Management launched an up to $65m fund called Lakeside Discovery on Thursday to back the university’s biotech projects. Lakeside Discovery will be stage-agnostic, favouring projects which offer “novelty of biological insight.” It is unclear whether the $65m represents a targeted close or funds already raised. A joint steering committee formed of management…

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