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UNC Chapel Hill teams with investment firm to launch new drug development company

By Jesse Schwartz
Published: October 25th, 2018

The University of North Carolina (UNC) Chapel Hill has become the latest major research university to partner with Deerfield Management, an investment firm focused on health care solutions, to launch a new drug development company.

The newly formed company, Pinnacle Hill LLC, will help university researchers take their therapeutic innovations to the marketplace. Deerfield will help Pinnacle Hill with business strategy and project management, allowing UNC researchers to stay focused on their work in the lab.

Deerfield has pledged $65 million toward the new venture, as well as its own expertise in the pharmaceutical sector. Representatives from Deerfield and UNC Chapel Hill will form a joint steering committee to select drug research projects for the company. Any future profits from drugs developed would be shared by Pinnacle Hill and the university.

“UNC-Chapel Hill is home to some of the world’s most innovative and life-changing research,” says Bob Blouin, executive vice chancellor and provost at the university. “The new partnership between UNC-Chapel Hill and Deerfield Management give us an exciting opportunity to accelerate drug discovery research at the university and advance new therapies that have the potential to improve health in North Carolina and beyond.”

Source: The News & Observer

Posted under: Tech Transfer e-News

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