Tech Transfer eNews Blog

Columbia U and Deerfield launch company to advance novel therapeutics

By Jesse Schwartz
Published: June 12th, 2019

Columbia University has become the latest major research university to strike a deal with healthcare investment firm Deerfield Management, joining forces to form a company that will take the school’s biomedical research and lead it toward commercialization.

Named Hudson Heights Innovations, the new company will assess drug development projects by Columbia researchers for their commercial potential. Deerfield will provide up to $130 million in funding over 10 years, as well as a range of support services for accepted projects, with the goal of accelerating novel therapeutics from Columbia research labs towards clinical validation in patients.

Under the terms of the agreement, Hudson Heights Innovations would receive an option to license Columbia technologies funded through the partnership, with support from the university’s commercialization arm Columbia Technology Ventures.

“We hold Columbia’s research enterprise — a city in itself of preeminent research centers and institutes — in the highest regard,” says James E. Flynn, managing partner at Deerfield. “And we believe that New York City is on its way to becoming a leading life science capital and the perfect venue for our collaboration with Columbia, as we collectively seek to develop new medicines to address unmet medical needs. The Columbia investigators will have Deerfield’s support to expedite the drug development cycle, which we expect will allow patients to receive treatments faster and physician-scientists more time to turn their attention to the next discovery.”

Orin Herskowitz, executive director of Columbia Technology Ventures, comments, “The life science innovations emerging from Columbia’s research labs are often incredibly promising, with a high potential for making a transformative impact on human health. However, basic scientific research needs validation in preclinical and clinical-stage development before it can make a difference in patients. Beyond the funding itself, the drug development, commercialization and operational expertise provided by Hudson Heights Innovations will hopefully ensure that more of these inventions make a positive impact in society, as quickly as possible.”

Source: Columbia News

Posted under: Tech Transfer e-News

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