– Partners HealthCare launches two new investment funds aimed at addressing the lack of translational funding in pre-clinical life sciences, Artificial Intelligence (AI) and digital technology development.
– The Partners HealthCare Artificial Intelligence and Digital Translation Fund (AIDIF) has an initial funding of $30M over five years and the Translational Innovation Fund (TIF) has funding of $50M over six years.
Partners HealthCare today announced the creation of two new investment venture funds totaling $80M aimed at addressing the lack of translational funding in pre-clinical life sciences, Artificial Intelligence (AI) and digital technology development. The funds will support ventures that develop new drugs and technologies based on inventions originating from Partners researchers and investigators as well as companies who will work with Partners institutions to develop new digital health solutions.
“As one of the nation’s largest research enterprises, Partners HealthCare is uniquely positioned to assess and understand the potential of the therapies and technologies we’ll invest in. These funds are a major step forward in accelerating the application of medical research” said Anne Klibanski, MD, Partners HealthCare President, and Chief Executive Officer. “These investments will enable patients to more quickly benefit from the life-changing breakthroughs developed by our investigators and clinicians while also helping to fuel the life sciences and digital health industries throughout this region.”
ADIF & TIF Investment Fund Overview
The Partners HealthCare Artificial Intelligence and Digital Translation Fund (AIDIF) has an initial funding of $30M over five years, and the Translational Innovation Fund (TIF) has funding of $50M over six years.
Artificial Intelligence and Digital Translation Fund (AIDIF): Digital solutions from more than 4,000 new company entrants into the digital marketplace require active testing, adaptation, and roll-out across actual clinical environments prior to widespread use. Such specialized co-development relies on health systems such as Partners HealthCare, who can help perfect these products and define how to integrate applications into clinical workflows and create reference models for other health systems. AIDIF will invest in companies that are active vendors with Partner HealthCare, creating opportunities for this “real-time lab” approach.
The Translational Innovation Fund (TIF): Life sciences face a persistent gap between basic research or drug discovery and clinical proof-of-concept. It’s estimated that for every 5,000-10,000 compounds that enter the drug discovery pipeline, only 250 will progress to pre-clinical development. TIF will provide the resources to advance promising therapeutics through preclinical translation, focusing on discoveries from the Partners hospitals including Massachusetts General Hospital and Brigham and Women’s Hospital.
The new funds join the Partners Innovation Fund (PIF), formed in 2008 to advance new science and technology based on Partners’ intellectual and financial capital. From an initial commitment of $35M, the fund has grown to $171M including 37 portfolio companies and spin-offs.
Providing Additional Growth Channels for Early Stage Ventures
“The TIF and AIDIF funds provide additional growth channels for early-stage ventures in the industry-changing segments of today’s health care market – digital, AI and life sciences,” noted Roger Kitterman, VP of Venture at Partners HealthCare Innovation and Managing Partner of the Funds. “Advancing highly promising pre-clinical technologies toward commercialization means patients will have greater access to potentially life-saving and life-improving innovation.”