NEW YORK–(BUSINESS WIRE)–Aug 2, 2022–
Cure, a New York City healthcare innovation campus designed by Deerfield Management, fuels economic growth. The Cure building has attracted 17 companies across healthcare, including medical technologies, healthcare services, therapeutics, healthcare investment, and non-profits. Since 2021, Cure’s programming and hosted events have brought together more than 2,000 healthcare professionals to learn, collaborate, and network.
Residents include Advancium Health Network, Apertura, AstaLynx Global , CobiCure, Concerto Care, Cure Innovation Labs, Coridea, Deerfield Management, EntryPoint Capital, Helaina, Humanity Health, Insilico, Kazia Therapeutics Limited, Lexeo Therapeutics, Nyxoah SA, Protara Therapeutics, and Test Now and Go.
Since 2021, healthcare company residents have raised more than $550 million in funding to advance healthcare solutions that include oncology and age-related diseases; expand value-based care for seniors; develop genetic medicines; bridge the gap between breast milk and formula; and diversify healthcare and life science leadership.
“The vision for Cure is to foster an environment across academia, government, industry, and not-for-profit to creatively work together to solve some of healthcare’s greatest challenges,” said James Flynn, Managing Partner, Deerfield Management and Cure Founder. “When you bring diverse people, innovative ideas, and technology together to collaborate in unexpected ways, the outcome can be monumentally impactful.”
The Cure is also a world-class venue for educational and networking events which have reached a broad audience of C-Suite leadership, entrepreneurs, and scientists. Recent in-person events have been hosted by organizations such as the New York Academy of Sciences, New York Health Business Leaders, New York Builds Bio+, the Flatiron / 23 rd Street Partnership, NASA, Cure, and Deerfield Catalyst, among several others.
The 300,000-square-foot campus at 345 Park Avenue South provides move-in-ready laboratory, engineering, computing, and office space for organizations across the entire healthcare spectrum. Cure residents have the opportunity to attend a weekly educational lecture series, the Cure Symposia. The Symposia are led by world-renowned subject-matter experts focused on relevant topics such as health and organizational management, innovation, philanthropy, and policy, among others.
Interest in Cure is rising along with the growth of the life sciences sector in New York City. In 2021, total life sciences employment in NYC reached a record high of more than 15,000 jobs and has grown a remarkable 73% since 2001, according to a new report from CBRE Research. The city’s life sciences companies set new records in both venture capital money raised and National Institutes of Health funding in 2021. NIH funding rose 21% to $2.76 billion, and VC funding reached an all-time high of $1.39 billion. 1
“Cure’s collaboration residency is home to many companies who want a presence in New York City,” said Karen Heidelberger, Deerfield’s chief partnership and communications officer. “Beyond a single office space or workstations, the collaboration residency offers exposure to networking opportunities, access to innovation with Deerfield’s research partnerships, and in-house experts from all healthcare sectors.”
“Humanity Health was created to accelerate the career progression of underrepresented leaders in healthcare and life sciences, and to help companies within these industries bring greater diversity into c-suite roles,” said Ron Mitchell, CEO of Humanity Health. “The Cure has given Humanity Health a flagship headquarters from which to do this important work, immersing us in an ecosystem of healthcare innovators and entrepreneurs.”
“We are proud to be a part of Cure’s NYC story,” said Alex Zhavoronkov, Ph.D., CEO of Insilico Medicine. “Having access to the world’s smartest and innovative experts at Cure is game-changing to helping advance our mission in accelerating drug discovery. Our goal is to bring value to the network by leveraging our proprietary AI-driven platform approach to support greater speed and efficiency across these novel drug discovery efforts.”
“As a tech-enabled provider of in-home primary care and support services for seniors and adults who have complex health conditions, it is imperative for ConcertoCare to take a holistic view of the health landscape,” said Julian Harris, MD, CEO of ConcertoCare and Operating Partner at Deerfield Management. “Our residency at the Cure provides daily accessibility to innovators across various health verticals, which has proven to be a vital asset in our efforts to continually optimize our platform and remain well-versed around the most pressing and nuanced challenges faced by patients, providers, and payors.”
Current residents of Cure include:
Advancium Health Network is a volunteer-driven, charitable organization mission-focused on advancing human equity and accelerating innovation to improve health for people globally. Advancium recognizes that a highly linked, more diverse community of healthcare innovators and providers is foundational to tackling health disparities, expanding treatment options, and finding cures.
Opening is a biotechnology company opening opportunities for treating debilitating diseases with limited options. It is uniquely positioned to develop genetic medicines by simultaneously engineering AAV capsids, regulatory elements, and payloads to overcome current limitations in gene therapy.
AstaLynx Global is transforming the way Life Sciences organizations develop and bring new products to market. The company leverages the latest technological advancements to reduce redundancies and improve process efficiencies for Pharmaceutical, Medical Device, Biotechnology, and Cosmetic companies.
CobiCure by Advancium Health Network is a non-profit organization focused on developing innovative medical devices for rare pediatric health conditions.
Concerto Care delivers primary and complex care to seniors and other adult patients where they are best served: in their own homes.
Cure Innovation Labsby Advancium Health Network is a 27,000-square-foot New York City not-for-profit incubator dedicated to advancing innovative early-stage life science-focused companies.
Coridea is a premier medical device incubator driven by an innovative and translational health care approach. Coridea develops unexpected device solutions that change the lives of cardiology, pulmonary and renal patients who have no other treatment options.
Deerfield Management is an investment firm dedicated to healthcare through information, investment, and philanthropy.
EntryPoint Capital (“EntryPoint”) is an investment management firm that fuses fundamental and systematic investment styles, integrating deep domain expertise with quantitative techniques.
Helaina strives to support parents and newborns through its alternative breast milk developed through precision fermentation.
Humanity Health is the premier career acceleration and talent sourcing platform for underrepresented leaders and innovators in healthcare and life sciences.
Insilico is an end-to-end, artificial intelligence-driven pharma technology company with a mission to accelerate drug discovery and development by leveraging its rapidly evolving, proprietary platform across biology, chemistry and clinical development.
Kazia Therapeutics Limited is an oncology-focused drug development company with two product candidates in clinical development, based in Sydney, Australia.
LEXEO Therapeutics is a clinical-stage gene therapy company focused on addressing some of the most devastating genetically defined cardiovascular and central nervous system diseases affecting both larger-rare and prevalent patient populations.
Nyxoah SA is a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA).
Protara Therapeutics is committed to identifying and advancing transformative therapies for people with cancer and rare diseases. The Protara team prioritizes creativity, diverse perspectives, and tenacity to expedite its goal of bringing life-changing therapies to people with limited treatment options.
Test Now and Go is a safe and professional COVID-19 test collection site dedicated exclusively to COVID-19 testing. Each test is administered by a collection specialist and processed by GENETWORx.
For more information about Cure, please visit: www.cure.345pas.com.
Affiliates of Deerfield have a financial interest in certain residents described here, including Apertura, ConcertoCare, Humanity Health, Insilico and Nyxoah SA.
An affiliate of Deerfield Management Company based in the heart of New York City, Cure is a 12-story innovation campus boasting laboratories, lecture, and office space, as well as technology and other amenities for physician-scientists/entrepreneurs across the healthcare industry, including academic institutions and other non-profits, to accelerate their novel work. For more information, please visit https://cure.345pas.com.
ABOUT DEERFIELD MANAGEMENT
Deerfield is an investment management firm committed to advancing healthcare through investment, information and philanthropy. The Firm works across the healthcare ecosystem to connect people, capital, ideas and technology in bold, collaborative and inclusive ways. For more information, please visit www.deerfield.com.
1Source: CBRE Research, National Institutes of Health
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PUB: 08/02/2022 09:30 AM/DISC: 08/02/2022 09:32 AM