Helmsley Charitable Trust Commits $5 Million to JDRF T1D Fund
The JDRF T1D Fund, a venture philanthropy fund focused on developing life-changing approaches to the prevention and treatment of type 1 diabetes (T1D), has announced a $5 million commitment from the Leona M. and Harry B. Helmsley Charitable Trust.
The funding will support the organization's efforts to identify and advance the best high-impact T1D commercial opportunities in partnership with venture and industry capital sources. Launched in January with $32 million in seed funding from JDRF, the fund manages more than $60 million and has invested more than $10 million to date in seven companies focused on developing therapies for T1D — including beta cell replacement therapies, a prevention vaccine, immunoregulation and beta cell restoration therapies, implantable glucose monitoring devices, and advanced artificial pancreas systems. The organization also announced that Gina Agiostratidou, T1D program director at the Helmsley Charitable Trust, has joined its board...