Deerfield Management committed up to $130 million to establish the Porter Alliance for Innovative Medicines at Stanford University — a new collaboration intended to speed up the process of developing novel therapeutics emerging from Stanford faculty into cures for major diseases.
Although the collaboration will be governed by a joint steering committee with equal representation from Deerfield and Stanford University, the Porter Alliance is a private company wholly owned by Deerfield Management affiliates.
This collaboration will rely on the robust, diverse drug pipeline already established by the Stanford Innovative Medicines Accelerator. Stanford researchers will be encouraged to submit proposals for consideration; accepted proposals will receive a development intended to shepherd product candidates into the Investigational New Drug process required for FDA approval. The chosen proposals will also be eligible for additional capital investments to create spin-off companies.
“We are proud to collaborate with Stanford University to help build the bridge that connects basic research to patient cures,” said James Flynn, managing partner of Deerfield Management, which in addition to capital, has also committed to provide scientific and operational support for the Porter Alliance.
The move comes five months after the firm closed its Deerfield Private Design Fund V with $1.4 billion in committed capital for healthcare investments. Deerfield’s portfolio covers the breadth of the healthcare industry, from diagnostics and pharmaceuticals to medical devices and healthcare IT.