Cystic Fibrosis Foundation Receives $3.3 Billion Royalty Pay Out November 24, 2014 The Cystic Fibrosis Foundation has announced that it has sold its royalty rights to CF treatments developed by Vertex Pharmaceuticals to drug investment firm Royalty Pharma for $3.3 billion. Its machinery is being delivered using a lipid nanoparticle, which could allow potential re-dosing of the therapy with low risk of dangerous immune responses. The foundation turned this steady flow into a waterfall: It sold its royalties in Kalydeco and other future Vertex cystic fibrosis products in 2014 to Royalty Pharma (Nasdaq: RPRX) for $3.3. It became clear in 2012 that our venture strategy was a success. Investments Analyst, Sr. Cystic Fibrosis Foundation 3.9 Bethesda, MD Only two drug companies returned his calls. Through our venture philanthropy model, we provide early stage funding to companies to develop breakthrough drugs for adults and children with cystic fibrosis. By creating this job alert, you agree to the LinkedIn User Agreement and Privacy Policy. CBI websites generally use certain cookies to enable better interactions with. Innovate with courage: We embrace challenges. When the Cystic Fibrosis Foundation started giving money to a small biotech firm back in 2000, its moonshot of a best-case scenario was that the company would discover a new treatment for the . There will be challenges but specialized care, a range of treatment options, and taking proper precautions can help you ultimately find a balance between CF and your life. It causes changes in the electrolyte transport system which causes cells to absorb too much sodium and water. It was unknown that such a compound existed. Charities are making big money by acting like venture capitalists Their most recent diversity investment was on Jan 10, 2023, when ReCode Therapeutics raised $10M. The Cystic Fibrosis Foundation is the world's leader in the search for a cure for Cystic Fibrosis, a life-threatening genetic disease that affects more than 30,000 people in the united states, and 70,000 worldwide.the Foundation accomplishes its mission by funding life-saving research to discover and develop effective therapies for people with cf. Cystic Fibrosis Foundation has 1 fund, including Path to a Cure. The approach has been widely emulated by many other rare disease nonprofits, and a National Institutes of Health initiative has adopted CF Foundation strategies to advance drug development for rare and neglected diseases. Genetic therapies are the key to curing CF and, while it is still very early days in this scientific quest, were investing in many different approaches that offer promise, said Martin Mense, PhD, CF Foundation senior vice president of drug discovery and director of the CF Foundation Therapeutics Lab.
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