The University of Chicago has announced a new partnership with Deerfield Management, a health care investment firm, to launch Hyde Park Discovery. This collaboration aims to advance the development of new medicines and treatments for various diseases. Deerfield will provide up to $130 million over the next decade, along with operational and scientific expertise, to support UChicago's discoveries that have potential as novel therapies.
Mark Anderson, dean of the Biological Sciences Division and executive vice president for Medical Affairs at UChicago, highlighted the significance of this collaboration: “The Biological Sciences Division at UChicago and the UChicago Medicine health system comprise a distinct environment that brings together basic researchers studying fundamental biology and physicians who provide advanced patient care. It is crucial to have the kind of support and innovative capabilities that Deerfield brings to accelerate discoveries and create meaningful results for our community and the world.”
A joint steering committee consisting of leaders from UChicago, the Polsky Center for Entrepreneurship and Innovation, and Deerfield’s scientific team will assess projects with an aim to achieve Investigational New Drug readiness swiftly. This model seeks to expedite bringing new drugs to market more efficiently.
James Flynn, managing partner at Deerfield, expressed confidence in the partnership: “Our partnership with the University of Chicago and the Polsky Center underscores Deerfield’s conviction in the significant translational potential of the research that takes place there,” he said. “In joining forces, we look forward to advancing compelling therapeutics together.”
Samir Mayekar from the Polsky Center stated: “Bringing innovative ideas and technologies from the University of Chicago ecosystem to the world is the mission of the Polsky Center, and collaborations such as this help us make this goal a reality.” He added optimism about developing new treatments backed by Deerfield’s scientific capabilities.
Professor Scott Oakes also commented on this initiative: “We are thrilled about partnering with Deerfield in pursuit of commercializing discoveries made at The University of Chicago that have potential impact on patient care,” he said. “This investment attests to incredible science being done here.”