With the funding, UPMC Enterprises will collaborate with and invest in partners pursuing scientific and commercial work that aligns with UPMC’s own life sciences research and development.
“The common link among our investments will be that each has a direct and powerful impact on how we care for patients, while generating a significant financial return,” Jeanne Cunicelli, executive vice president of UPMC Enterprises, said in the announcement. “As important as the funding is the unparalleled scientific and medical expertise backing our ideas, thanks to resources provided by UPMC and our academic partner, the University of Pittsburgh.”
The $1 billion total includes the $200 million UPMC committed to a partnership with the University of Pittsburgh in 2018. That investment established the UPMC Immune Transplant and Therapy Center, an eight-story hub for immunotherapy research featuring lab and office space, as well as space for startups and other industry partners.
More articles on innovation:
New AMA hub connects healthcare startups, physician-innovators
5 things that can sink hospital innovation efforts
Moffitt Cancer Center’s 1st chief digital innovation officer: Don’t forget about the people behind the innovation
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.