Boston-based Partners HealthCare closed $171.1 million in capital to invest in early-stage life sciences companies, the health system announced Nov. 8.
The $171.1 million includes a $105 million commitment from Partners institutions for the Partners Innovation Fund and $66.1 million in outside capital for the Partners Innovation Fund II. The funding programs focus on medical innovations created and developed within the Partners system.
The capital commitments to the Partners Innovation Fund include two $50 million commitments from Brigham and Women's Hospital and Massachusetts General Hospital, both based in Boston. Since its launch in 2008, the Partners Innovation Fund has invested in 32 companies across key industry sectors like therapeutics, diagnostics, health IT and medical devices.
The Partners Innovation Fund II is backed by several pharmaceutical companies, including Astellas Pharma, Eli Lilly and Co., ShangPharma Corp., and Simcere Pharmaceutical Group.
"This collaboration underscores Partners' commitment to promote the commercialization of inventions and discoveries originating from the Partners community and to translate those discoveries into treatments for patients," said Anne Klibanski, MD, chief academic officer of Partners HealthCare.