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Turning science into breakthroughs
Catalyzing translational research efforts by supporting preclinical and commercial clinical development
On May 27, 2020, the University of Michigan and healthcare investment firm Deerfield Management entered into an agreement to partner in the development and commercialization of therapeutic projects that hold promise in solving unmet medical needs. Deerfield has created a company named Great Lakes Discovery through which it will work with the University of Michigan, and committed up to $130 million over the next decade to invest in biomedical research at U-M with the aim of developing potentially life-saving drugs and disease treatments.
Projects selected by Great Lakes Discovery will be provided funding and operational support by Deerfield for a development plan aimed at achieving Investigational New Drug (IND) readiness. Successful projects that achieve IND-enabled status may be eligible for additional capital from Deerfield. Great Lakes Discovery, in exchange for funding, would receive an option to license intellectual property that is developed at U-M under this agreement.
One of the nation’s top public universities, the University of Michigan has been a leader in research, learning and teaching for more than 200 years. U-M’s alumni body is one of the largest in the world and includes a U.S. president, scientists, actors, astronauts and inventors. The university, which also boasts a world-renowned intercollegiate athletics program, has been the site of many important events in U.S. history, including JFK’s announcement of the Peace Corps, LBJ’s “Great Society” speech, and the clinical trials of the Salk polio vaccine. The main campus in Ann Arbor comprises 19 schools and colleges; there are also regional campuses in Dearborn and Flint, and a nationally ranked health system, Michigan Medicine. In 2017, U-M celebrated its bicentennial, marking 200 years since its founding in the city of Detroit.
Deerfield is a healthcare investment management firm committed to advancing healthcare through investment, information and philanthropy. For more information, please visit www.deerfield.com.
Timeline for Proposal Submissions
Proposal Sourcing
Principal Investigators are invited to submit proposals.
Scientific Review
Your proposal will be reviewed by members of our scientific team.
Full Proposal
If your idea is selected for further evaluation, you will be invited to submit a full proposal.
Investment Evaluated
Your proposal will be carefully evaluated for funding by Deerfield’s investment team.