| UNC-CH
Deerfield Management commits up to $65 million to support the development of novel therapeutics at UNC-Chapel Hill
Deerfield Management commits up to $65 million to support the development of novel therapeutics at UNC-Chapel Hill
The University of North Carolina at Chapel Hill and Deerfield Management have entered into a partnership to create Pinnacle Hill, LLC., a company seeking to discover new medicines to address the significant unmet medical needs of our times. Deerfield has committed $65 million of targeted funding and to provide drug development expertise in support of promising new drug research across a wide range of therapeutic areas.
The partnership will be formally launched at an event hosted by the University and Deerfield Management on October 30 at 3:30 pm at the Carolina Club on the UNC-Chapel Hill campus.
“This is a very exciting new partnership between UNC-Chapel Hill and Deerfield Management. In creating a new company, Pinnacle Hill, we are bringing together the best of academia and industry to accelerate innovative drug research,” said Chancellor Carol L. Folt. “By investing in our faculty’s early stage research, this partnership advances our commitment to improving the health and well-being of people around the world.
Research and development conducted at Pinnacle Hill will be supported by funding, expert drug development guidance, experienced project management oversight, and business strategy. These efforts will serve to improve and accelerate the product development process and allow founding scientists to concentrate on their research.