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Northwestern enters $65 million partnership to create new drugs

Northwestern enters $65 million partnership to create new drugs

Northwestern University is partnering with an investment management company that has pledged up to $65 million to help advance potential new drugs.

The university and Deerfield Management, based in New York City, are launching Lakeside Discovery to help usher potential drugs to the U.S. Food and Drug Administration for approval for human testing.

The university already has partnerships with a number of pharmaceutical companies, such as Deerfield-based Baxter International and North Chicago-based AbbVie.

But it hasn’t had a partnership of this scale until now, said Alicia Loffler, executive director of Northwestern’s Innovation and New Ventures Office. “With this, we will...

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