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UCSD makes a splash with $65m Poseidon fund

Sep 6, 2018 •

UC San Diego is the fourth university to launch a $65m initiative with Deerfield Management, following Northwestern, Vanderbilt and Johns Hopkins.

University of California (UC) San Diego unveiled the $65m Poseidon Innovation fund yesterday with the money coming from healthcare-focused investment firm Deerfield Management.

Poseidon Innovation will push early-stage university drug research. Deerfield will channel capital and resources into the initiative to help ensure research programs can withstand risks inherent in the embryonic phases of development.

Projects which exhibit commercial potential may go on to become spinouts with the possibility of follow-on investment from Deerfield.

Poseidon is intended to spur flexible,…

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Global University Venturing (GUV) is where tech transfer, academic and investment experts meet to explore the latest ideas and technologies driving innovation forward. We drive the discussions and share best practices that are critical to the success of spinouts, scaleouts and innovation programmes. Our aim is to help improve the processes of bringing innovations from academia to global markets and facilitate their integration into the broader business ecosystem.