One biotech venture fund is literally giving money away
MPM Capital, a Boston-based biotech fund, is investing in cancer research with no expectation of monetary return.
As STAT’s Kate Sheridan reports, MPM has set up a first-of-its kind program that will divert a chunk of the fund’s client fees to pay for scientific grants. Alongside the American Association for Cancer Research, MPM will dole out research funding for potentially transformative ideas. And the money, drawn from MPM’s fees for managing the UBS Oncology Impact Fund, has no strings attached.
“Our investors want to make money and do good at the same time,” said Dr. Christiana Bardon, a member of MPM’s investment team and the managing director of the Oncology Impact Fund. “That is the ultimate goal of what we do — not just to make money, but to create drugs that transform patients’ lives.”
Read more.
As STAT’s Kate Sheridan reports, MPM has set up a first-of-its kind program that will divert a chunk of the fund’s client fees to pay for scientific grants. Alongside the American Association for Cancer Research, MPM will dole out research funding for potentially transformative ideas. And the money, drawn from MPM’s fees for managing the UBS Oncology Impact Fund, has no strings attached.
“Our investors want to make money and do good at the same time,” said Dr. Christiana Bardon, a member of MPM’s investment team and the managing director of the Oncology Impact Fund. “That is the ultimate goal of what we do — not just to make money, but to create drugs that transform patients’ lives.”
Read more.
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