Durham, N.C.-based Duke University's Office of Licensing & Ventures partnered with healthcare investment firm Deerfield Management Company to launch Four Points Innovation, a private company aiming to accelerate drug discovery and development.
Four Points Innovation is wholly owned by Deerfield affiliates, backed by up to $130 million in initial funding to support the company's first 10 years. It will support Duke-led research and development projects, with researchers able to begin submitting proposals in March 2020. Chosen projects will be guided through preclinical development stages by Duke and Deerfield experts, then licensed by Four Points Innovation.
"This is an exciting day for Duke and the patients we serve," said Mary Klotman, MD, dean of Duke University School of Medicine and vice chancellor for health affairs. "This new partnership will help further Duke's commitment to improve the lives of people in our own community and around the world by supporting and accelerating the translation of research into new therapies to treat and cure society's most formidable healthcare challenges."
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