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Business
Broad and Deerfield form lucrative pact
by Lisa M. Jarvis
October 16, 2017
| A version of this story appeared in
Volume 95, Issue 41
In a unique partnership, the health care venture firm Deerfield Management will invest more than $50 million in drug discovery projects at Broad Institute of MIT & Harvard. During the five-year pact, Deerfield will support academic research—initially five to 10 projects—and have an option to create companies based on promising programs. While a number of research institutions have hooked up with drug companies that want to gain early access to academic discoveries, Broad’s pact with an investment firm is unusual.
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