New York - Paul Hastings, a leading global law firm, announced today that the firm represented Deerfield Management on the launch of a pioneering, early-stage therapeutic research partnership with The Broad Institute of MIT and Harvard. The partnership brings together a leading investment firm with a prominent academic research institution with the goal of bringing therapeutics from the lab to the clinic and ultimately to market. The partnership includes funding for early-stage academic research, and Deerfield has committed to supporting new entities to develop therapies based on the most promising projects.
Deerfield will commit more than $50 million to the advancement of therapeutic research projects at the Broad Institute over an initial period of five years, and will dedicate any of its profits from a successful therapeutic earned by its Healthcare Innovations Fund to its philanthropic arm, the Deerfield Foundation.
Deerfield Management and Broad Institute to Form Research Partnership
The Paul Hastings team was led by partner Samuel Waxman, and also included partner Andrew Short and associate Michael Vargas.
In 2016, Paul Hastings advised Deerfield Management in connection with the formation of Bridge Medicines, a drug discovery company launched in partnership with Memorial Sloan Kettering Cancer Center, The Rockefeller University and Weill Cornell Medicine.
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