The JDRF T1D Fund, a venture philanthropy fund focused on developing life-changing approaches to the prevention and treatment of type 1 diabetes (T1D), has announced a $5 million commitment from the Leona M. and Harry B. Helmsley Charitable Trust.
The funding will support the organization's efforts to identify and advance the best high-impact T1D commercial opportunities in partnership with venture and industry capital sources. Launched in January with $32 million in seed funding from JDRF, the fund manages more than $60 million and has invested more than $10 million to date in seven companies focused on developing therapies for T1D — including beta cell replacement therapies, a prevention vaccine, immunoregulation and beta cell restoration therapies, implantable glucose monitoring devices, and advanced artificial pancreas systems. The organization also announced that Gina Agiostratidou, T1D program director at the Helmsley Charitable Trust, has joined its board.
"Over the last nine years, the Helmsley Charitable Trust has established a well-deserved reputation as an innovative and catalyzing force in global T1D efforts," said T1D Fund chair Sean Doherty. "As we developed the T1D Fund, the Helmsley Charitable Trust provided invaluable advice about the optimal strategy and structure for the vehicle." JDRF and Helmsley are the two largest private-sector funders of T1D research.
"We are excited to support the critical work being done by the T1D Fund," said Helmsley trustee David Panzirer. "We have seen firsthand through our work how challenging it is for companies working in the space to attract the early funding they require to research and develop breakthrough T1D solutions, and then advance them to the market. We believe that the T1D Fund has the potential to fundamentally alter these market dynamics and help bring new devices and therapies to people with T1D, which is our shared goal."