Buoyed by blockbuster Vertex payments, the CF Foundation seeds new advances with $500M fund
What does a large foundation do when they receive a check for 10 times their annual revenue?
For five years now, the Cystic Fibrosis Foundation has been a living experiment to that question. In 2014, the group saw its foray into venture philanthropy pay off with a $3.3 billion check from Royalty Pharma for royalties to Vertex’s CF treatments. (The Eli Lilly heiress-endowed Poetry Foundation has been a smaller long-running experiment in the same question, for the literary pharma nerds out there.)
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