MPM Capital Announces $100M Oncology Innovations Fund as Part of Novel Venture Philanthropy Collaboration with Dana-Farber Cancer Institute – Dana Farber

Written by Dana-Farber

Unique impact model also raises more than $26M in donations to support cancer research

MPM Capital (MPM) and Dana-Farber Cancer Institute have entered into a unique, first-of-its-kind, impact investing collaboration. The initiative combines fundraising for biotech venture capital investing with philanthropic fundraising for cancer research. This collaboration has successfully raised two funds: the MPM Oncology Innovations Fund (INV) with $100M in capital for creating and investing in early-stage biotech companies developing oncology therapeutic technologies; and the Dana-Farber Innovations Research Fund (IRF) with more than $26M in pledged donations to support early-stage oncology research at Dana-Farber.

“We are thrilled to have partnered with MPM on this innovative venture philanthropy model. We have generated substantial philanthropic support for exciting areas of cancer research at Dana-Farber, and MPM will support the creation of biotech companies that seek to bring new and advanced treatments to our patients,” said Laurie H. Glimcher, MD, President and Chief Executive Officer of Dana-Farber.

 

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By sophiata@bu.edu
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