The has announced a $5 million commitment in support of T1D Innovations, a joint initiative with Boston-based life sciences venture company to accelerate the development of innovative therapies for type 1 diabetes (T1D).
The multiyear investment will be used to create and fund high-impact companies that develop novel T1D-related therapies. Part of PureTech's broader initiative, which is designed to commercialize breakthroughs in areas of unmet medical need, T1D Innovations will work to strengthen the T1D product pipeline and accelerate the development of groundbreaking products for individuals with T1D.
In addition to JDRF's lead investment, the and the will provide scientific, clinical, and patient-engagement capabilities. According to PureTech, additional investors in the initiative will be required to help achieve its objectives and, in return, will participate in any financial returns.
"T1D Innovations is a unique opportunity to fund entrepreneurial activity at the translational stage of the type 1 diabetes product pipeline, allowing us to drive the most commercially promising type 1 diabetes research projects into the clinic, while leveraging the co-investment of other partners," said JDRF president and CEO Jeffrey Brew. "This new initiative complements JDRF's current grantmaking and industry partnering activities, which are respectively focused on early-stage exploratory research and later-stage product development opportunities."