Partners HealthCare has launched two new investment funds designed to improve funding for AI solutions and other key technologies. The funds will go toward supporting the development of new drugs and solutions with a connection to researchers and studies affiliated with the company and its partners.
The Partners HealthCare Artificial Intelligence and Digital Translation Fund begins with $30 million in funding over the course of five years. The Translational Innovation Fund, meanwhile, begins with $50 million in funding over the next six years.
“As one of the nation’s largest research enterprises, Partners HealthCare is uniquely positioned to assess and understand the potential of the therapies and technologies we’ll invest in,” Anne Klibanski, MD, Partners HealthCare President and CEO, said in a prepared statement. “These funds are a major step forward in accelerating the application of medical research. These investments will enable patients to more quickly benefit from the life-changing breakthroughs developed by our investigators and clinicians while also helping to fuel the life sciences and digital health industries throughout this region.”
“Too often, what could be game-changing research is stranded due to lack of financing between initial funding and longer-term venture investment,” Chris Coburn, chief innovation officer for Partners HealthCare, said in the same statement. “These funds will address these gaps and provide the resources to quickly advance technologies in some of the most promising areas of healthcare such as immune oncology, intelligent devices and remote care.”
Michael has more than 16 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.