The University of Chicago is partnered with a health care investment firm that pledged up to $ 130 million to help the school’s research and discoveries convert more rapidly into drugs.
University and Dearfield management are participating on the initiative, called the Hyde Park Discovery. Dearfield will spend up to $ 130 million over the next 10 years, and will provide expertise to help the university pursue the discoveries in the hope of bringing it to the market.
If cooperation is successful in bringing new drugs or other treatments to the market, the university and dearfield will share financial upside down, said Sameer Maykar, managing director of the university’s Poleski Center for Entrepreneurship and Innovation.
The university has already converted its discoveries into real -life health care treatments. But the new partnership will help in speeding up that process, said Meykar.
“This partnership with Dearfield will help us bring us our commercialization efforts at the next level, especially in the field of life science,” the maker said. “This is important, so that great science can help save life.”
Uchicago, a joint steering committee made up of leaders of POLSKY Center and Deerfield will assess which projects to return for quick advancement.
Dearfield, located in New York City, has a similar partnership in other universities across the country and locally. In 2018, Dearfield announced a $ 65 million partnership with the Northwestern University, and in 2019, initiated another $ 65 million with the University of Illinois Chicago.
Deerfield chooses which universities partnership based on several factors, including their research funding from filing for the National Institute of Health, Faculty and Intellectual Property, said Bill Slaty said, a partner of the theraputics team in Dearfield.
“The University of Chicago stands in its… NIH funding, faculty members and a very prestigious post in the context of discoveries,” said Slutri. “It is still an institution known for the extraordinary minds passing through its doors.”