STAT Plus: In novel partnership with cancer group, biotech venture firm doles out grants for research
The whole point of a biotech venture capital firm is to make money for itself and its investors. But one fund is doing something counterintuitive: giving away some of its money.
On Tuesday, Boston-based venture firm MPM Capital and the American Association for Cancer Research announced the first grants from the AACR-MPM Transformative Cancer Research Grants Program. The program is entirely funded with money MPM Capital collects for managing the $471 million UBS Oncology Impact Fund.
