Deerfield Discovery nets $50M from the state of New York and parent company
The discovery arm of the healthcare investment player Deerfield Management Company is getting a major financial boost.
Deerfield Discovery and Development will receive $25 million, over five years, from the state of New York and Empire State Development, a state organization that offers grants, loans and other assistance to companies. Another $25 million will come from Deerfield Management.
The funds will go toward the buildout of a 6,000-square-foot lab space at Cure, a healthcare campus founded by Deerfield at 345 Park Ave. South in New York City. The money will also be used for purchasing equipment and software, operating costs and other items.
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