Beth Israel Deaconess Medical Center (BIDMC) and Deerfield Management, a healthcare investment firm, announced a research collaboration named Brookline Avenue Innovations, LLC, aimed at accelerating the creation and development of novel therapeutics. Deerfield has committed up to $130 million along with additional scientific and operational support to this collaboration to advance BIDMC research that has the potential to transform patient care over the next decade.
BIDMC researchers will be able to submit proposals for funding to Deerfield’s scientific review team. Accepted proposals will work with Brookline Avenue Innovations to specifically manage and support BIDMC projects. Selected projects will also have the eligibility for additional capital investments to create spin-off companies.
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, please visit www.deerfield.com.
Beth Israel Deaconess Medical Center is a patient care, teaching and research affiliate of Harvard Medical School and consistently ranks as a national leader among independent hospitals in National Institutes of Health funding. BIDMC is the official hospital of the Boston Red Sox.
Beth Israel Deaconess Medical Center is a part of Beth Israel Lahey Health, a health care system that brings together academic medical centers and teaching hospitals, community and specialty hospitals, more than 4,800 physicians and 36,000 employees in a shared mission to expand access to great care and advance the science and practice of medicine through groundbreaking research and education.