Investment & Company Creation

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Partners Innovation Fund

Partners Innovation Fund (PIF) is a $100 million venture capital fund focused exclusively on commercializing technologies that emerge from the greater Partners HealthCare research community. The Fund was established in 2008 with a $35 million commitment from Massachusetts General Hospital (MGH) and Brigham and Women’s Hospital (BWH).  The capital base was expanded to $100 million in January 2016 based on the superior financial performance of the investment portfolio which ranks in the top quartile of life science funds for the same time period.

Our mission is to originate, finance and support new ventures that can translate leading-edge discovery and invention into products that benefit patients everywhere. 

Proprietary Platform

We have a uniquely privileged position to exploit the intellectual capital created by Partners’ expansive pool of scientific talent and clinical resources reflecting the creative output from more than $1.5 billion of research expenditures with more than 325 patent submissions annually. We leverage this competitive advantage to accelerate the development of breakthrough technologies to address unmet needs to improve healthcare outcomes and delivery.

  • Discovering technologies to solve unmet needs
  • Investing in transformative ideas
  • Developing and building disruptive ventures
  • Deliverying solutions to improve the lives and outcomes of patients
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Innovation Fund Strategy

The investment strategy focuses on seed and follow-on investments with significant ownership and board participation. New ventures for consideration must be based on intellectual property owned at least partly by our hospital entities.  We are actively engaged in the early stages of company development, including securing initial funding, building successful management teams and forming critical corporate alliances. We typically partner with strong co-investor syndicates to reduce financing risk and bring relevant domain expertise and experience to the board room.  Investments are diversified across the biomedical market sectors where Partners conducts research, including therapeutics, diagnostics, HIT and medical devices.

Domain Expertise and Industry Focus

Market Sectors

Investment Team

The Fund team combines proven investment acumen with the scientific background necessary to analyze the risks and complexities of early-stage life science investing. Their expertise ranges from venture financing to biomedical research, product development, intellectual property assessment, business development and strategic partnering. The team works closely with Partners’ extensive network of scientists and clinicians to source opportunities and rigorously validate them as commercially viable propositions.

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Successful Track Record

The Fund has a proven track record of value creation driven by the translation of disruptive research to create transformative new ventures that are highly valued by strategic investors and the public markets.  Recent successes include: CoStim Pharmaceuticals (acquired by Novartis), Adheron Therapeutics (acquired by Roche), Editas Medicine (IPO on NASDAQ: EDIT), Annovation BioPharma (acquired by The Medicines Company), and QPID Health (acquired by eviCore Healthcare).

In the News

Partners HealthCare and Health Catalyst Honored as Recipients of the 2016 Microsoft Health Innovation Awards

March 9, 2016

SALT LAKE CITY and BOSTON, March 3, 2016 /PRNewswire/ — Health Catalyst and Partners HealthCare today announced they have been named recipients of Microsoft Corp.’s 2016 Health Innovation Awards. The organizations won the “Reinventing Productivity and Business Processes” category, which evaluates solutions that transform care delivery or population health by connecting clinicians and staff to…

Health Catalyst Announces New Products at HIMSS16

March 1, 2016

From the floor of the HIMSS16 Conference and Exhibition in Las Vegas, Health Catalyst announced it is launching the most significant update to its technology and product strategy since the introduction of its industry-changing Late-Binding™ Enterprise Data Warehouse (EDW) in 2008. The expansion of Health Catalyst’s product development program comes with the strong endorsement of…

QPID Acquired by Leading Technology-Enabled Medical Benefit Management Company eviCore healthcare

February 29, 2016

Leading Technology-Enabled Medical Benefit Management Company eviCore healthcare Acquires QPID Health Combined entity will support healthcare’s shift to value-based care with advanced analytics, software and services to support payers, hospitals, physicians and patients BLUFFTON, SC – February 29, 2016 – eviCore healthcare, a company committed to enabling better outcomes for patients, payers and providers through…

Editas Medicine pricing shares at $16 for year’s first IPO: reports

February 3, 2016

Editas Medicine Inc. EDIT, +0.00% priced shares for its initial public offering at the low end of the range, according to media reports late Tuesday, for what will be 2016’s first IPO. Editas will price 5.9 million shares at $16 a share, at the low end of its $16 to $18 range, to raise $94.4…

Partners HealthCare puts millions toward in-house innovation

January 13, 2016

The state’s largest health care system is putting an increased focus on financing homegrown innovations, with Partners HealthCare putting another $65 million in a fund used to invest in Partners technologies while opening the door to outside investors. The Partners Innovation Fund, created in 2007 with $35 million from Partners, was intended to progress Partners-developed…

Partners Innovation Fund Grows to $100 Million

January 12, 2016

Nine years ago, a grand Partners HealthCare experiment was launched. Not on a laboratory bench or in an exam room but on an organization-wide scale. With $35 million at stake, the concept was to run a venture model from within Partners with ready capital and experienced internal venture investors who could steward the creation of…

Cambridge startup Editas plans to test IPO market for biotechs

January 8, 2016

Editas Medicine Inc., a Cambridge startup that is developing treatments to modify disease-causing genetic defects, plans to go public in a deal that could test the strength of the market for new biotech stocks. In a filing Monday with the Securities and Exchange Commission, two-year-old Editas did not specify the sales price range or when…

FierceBiotech’s 2015 Fierce 15

January 8, 2016

Partners Innovation Fund portfolio company and PHS licensee Denali Therapeutics was selected for FierceBiotech’s 2015 highly competitive Fierce 15.

Quartet closes an upsized A round with a novel approach to pain

January 8, 2016

MGH spinout and PIF portfolio company, Quartet Medicine, added $6.25 million to its Series A fundraise, closing the round at $23.25 million as it moves toward clinical trials with a newfangled way of treating chronic pain.

Roche picks up a new autoimmune drug with $580M Adheron deal

January 8, 2016

10-9 – BWH spinout and PIF portfolio company, Adheron, has been acquired by Roch. Adheron is developing antibodies (currently in Phase I) targeting cadherin-11 for treatment of rheumatoid arthritis and other indications, and is based on technology developed by Michael Brenner, MD at BWH. Roche will be a great partner to move the product forward…

Blue Cross Blue Shield invests in Newton medical imaging company lifeIMAGE

January 8, 2016

10-2- PHS spin-off and Partners Innovation Fund portfolio company, lifeIMAGE, announced a $5 million strategic investment from Zaffre Investments, LLC, the investment arm of Blue Cross Blue Shield of Massachusetts. This investment follows the $17.5 million round of financing lifeIMAGE received in May.

FierceBiotech’s 2015 Fierce 15

November 11, 2015

Whatever lies ahead for biotech in 2016, we can now look back on a 3-year-long stretch of good times for the industry. Venture groups have used the wave of biotech IPO exits and M&A deals to go back and raise more money from institutional investors. And as billions of dollars in fresh capital has converged…

Cambridge-based Editas gets $120M investment to advance genome editing

November 11, 2015

Kendall Square startup Editas Medicine, which aims to cure diseases by fixing disease-causing genes, today announced a $120 million investment, representing the second-largest venture capital rounds in Massachusetts so far this year. The Series B round comes from more than a dozen public and private investors, some of which — like New York City-based Deerfield…

GeneInsight wins Bio-IT World’s Best Practice Award

April 10, 2013

Boston—Bio-IT World announced the winners of its ninth Best Practices Awards competition this morning in a plenary session at the 2013 Bio-IT World Conference & Expo in Boston. Grand prize winners were named in four life sciences categories highlighting best practices in genomics, cloud computing, big data in disease research, and big pharma data management…

Partners Innovation Fund Team