In partnership with the Longwood Fund, a biotech-focused venture capital firm, the Cystic Fibrosis Foundation in Bethesda, Maryland, has announced the launch of a $20 million cystic fibrosis incubator.
Launched as part of the foundation's $500 million Path to a Cure initiative, the effort is aimed at accelerating the development of CF programs in select Longwood Fund companies. Through the incubator, the foundation will have the opportunity to provide seed-stage funding to new companies within Longwood's general fund, as well as the option to continue investing in those companies in future fundraising rounds.
"The Cystic Fibrosis Foundation has a legacy of making bold commitments, including early-stage funding to develop breakthrough therapies for people with cystic fibrosis and to drive progress toward a cure," said Cystic Fibrosis Foundation president and CEO Michael P. Boyle. "This collaboration marks an exciting evolution in our long-standing approach to venture philanthropy and will amplify our efforts to draw the best scientific minds and technologies into CF and accelerate our Path to a Cure."
(Image credit: Cystic Fibrosis Foundation)