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Investment

Deerfield and University of Illinois launch biotech start-up

by Ryan Cross
April 26, 2019 | A version of this story appeared in Volume 97, Issue 17
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A photo of the University of Illinois at Chicago.
Credit: UIC College of Pharmacy
The Merck & Co. cancer drug Tice BCG was discovered at UIC.

Deerfield Management is launching another biotech start-up with an academic partner, this time with the University of Illinois at Chicago (UIC). Deerfield will invest up to $65 million in the newly launched West Loop Innovations, which will begin accepting proposals for drug development projects from UIC researchers this fall. Deerfield has created similar initiatives at Harvard University, Dana-Farber Cancer Institute, the University of North Carolina at Chapel Hill, and Johns Hopkins University.

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