T1D Innovations, LLC
United States of America
Last updated 12 May 2020, by Impactyield.
A severe lack of resources for translational research, which is the work necessary to bring scientific breakthroughs into human clinical testing, is preventing many of the innovations flowing out of academic labs from impacting the lives of patients. In the case of type 1 diabetes (“T1D”), this deficit is particularly pronounced: over $275 million is spent annually on basic research and yet until now there have been no venture funds or venture-creating entities dedicated to the disease. T1D Innovations, LLC (“T1D Innovations”) was formed by the Juvenile Diabetes Research Foundation (JDRF), the world’s largest non-profit supporter of T1D research, and PureTech Ventures, LLC (“PureTech”), a venture creation company, to address this need. This initiative will create and fund high-impact companies that will develop innovative type 1 diabetes-related products with the potential to have a substantial clinical impact on T1D patients. Joslin Diabetes Center and T1D Exchange join PureTech and Anchor Partner JDRF as Special Partners. These foundations will bring their valuable scientific, clinical, and patient engagement capabilities to the collaboration.
T1D Innovations is a vehicle for mission-focused not-for-profits and other strategic and financial investors to work with PureTech, an institutional entrepreneur, to develop solutions for T1D.
T1D innovations’ investors invest directly in the mission-focused LLC and receive, in return, an equity stake in the company. This investment is directed toward the company’s venture creation activities, with a focus on funding critical development and commercialization activities for transformational technologies in type 1 diabetes. Investors participate in governance of the LLC, particularly for the purpose of ensuring mission compliance, and will have the opportunity to participate even more deeply in a business or scientific capacity.
As promising individual technologies are identified, they are spun off as separate wholly-owned subsidiaries of the company (“NewCos”) and are structured as C-corporations.
of track record
the year funded
Achieve universal health coverage
Key performance indicators
Asset manager: T1D Innovations
Product track record: Fund has 10 years of track record
Target IRR: 30%
Committed Capital: 6,900,000 USD (US Dollar)
Target return category: Risk-adjusted market-rate of return
Fund domicile: United States of America
Product status: Open - committed capital
Style/Stage: Early Stage, Seed Stage
Inception year: 2013
Vintage year: n.a.
Target region: Global
Target close date: 01/12/2014
Product term: 5 years
Assets under management: 10,000,000 USD (US Dollar)
Investment size: Min: 0; Max: 0; Avg: 1,000,000
Currency of investments: USD (US Dollar)
Currency for fund / product figures: USD (US Dollar)
Fund investments to date: 0
Fund investments to date exited or repaid: 0
Management fee: n.a.
Carried interest: n.a.
Hurdle rate: n.a.
GIIN Investors' Council Investment: No
Limited Partners / Investors: JDRF $5 Million commitment
Limited Partner / Investor Type: Endowments/Foundations, Family Office, Pension Funds, Other Institutional Investors
Phone number: 6174822333.00
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The scope of the initiative is broad, comprising any vaccine, therapeutic, device, mobile or electronic application, screening tool, diagnostic or combination thereof that has the potential to cure, treat or prevent T1D or its complications and thereby generate a substantial clinical impact on T1D patients. T1D Innovations plans to focus its venture creation efforts on two to three areas within this scope that it identifies as having the most fertile technological landscapes.