2021 started off well for Dana-Farber Cancer Institute, with the launch of its new venture fund, Binney Street Capital, LLC, designed to invest in cutting edge technology to treat incurable cancers.
The cancer-fighting giant tapped Roche and Verily veteran Luba Greenwood to lead the Fund as its Managing Partner, which will be guided by an advisory group comprised of leading industry experts and investors focused on furthering Dana-Farber’s mission.
More than 51 startups, including over 11 in just the past 3 years, have reportedly been created with research, IP and/or leadership sourced from Dana Farber. The Institute has responded by launching the fund to invest in and support such companies as a means to the end of developing new and advanced therapies for patients.
Investments will reportedly be made in companies that were created with Dana-Farber IP or co-founded by a Dana-Farber investigator, and that focus primarily on therapeutics but in some cases novel diagnostics, digital health, and services also.
Greenwood has indicated that Binney Street plans to invest in 8 to 10 companies over the next three years, with $250K – $2M per investment. “The science has to be differentiated, it has to be truly break-through…” Greenwood said. “So basically the best of the best in oncology and immunology.”