CF Foundation’s Business Model Highlighted in San Diego Business Journal
March 4, 2008
A March 3 article in the San Diego Business Journal highlights the Foundation’s success in funding biotechnology firms to develop treatments for cystic fibrosis. U.S. foundations invested about $75 million last year in drug discovery and development, and the CF Foundation invested the majority amount—about $48 million, the article notes.
“We’re taking philanthropy dollars and becoming venture capitalists, in a sense,” Robert J. Beall, president and CEO of the CF Foundation says in the story. “It’s just a model a lot of voluntary health organizations are going after now because really we’re having success. We’ve never had a pipeline that has as many drugs in it as now.”
The story also features Vertex Pharmaceuticals, which is developing two promising compounds to treat CF. Overall, the Foundation has more than 30 potential CF therapies in its drug development pipeline aimed at treating both the symptoms and the root causes of the disease itself.
Read the full story from the San Diego Business Journal.