Financing for the Clinical Accelerator's portfolio of trials and reagents is provided by the Cancer Vaccine Acceleration Fund (CVAF), CRI's donor-supported venture capital arm. This unique non-profit investment vehicle serves two key functions: 1) to negotiate access to top industry-owned drugs, and 2) invest in the most promising CVC clinical studies that include those drugs.
CVAF works with the Ludwig Institute for Cancer Research to strike partnerships with leading biopharma companies whereby the CVC is provided with access to company-owned drugs in return for the drug development benefits of the collaboration's resources—distinguished expertise in clinical immunology, accelerated patient recruitment, in-house clinical trials management, and CVAF's nonprofit financing for trials.
Each CVAF investment covers some or all of the costs of an important clinical study of a drug (or drugs) identified as a top priority by the CVC's global scientific membership. CVAF's return on investment structure is both non-dilutive and back-ended, helping to de-risk the critical early stages of development of potentially transformative new treatments that otherwise would not likely be initiated, while also empowering CVC researchers to answer key clinical questions today that otherwise might not be answerable for years (or decades).
Over time, by backing the development of the best new drugs, in partnership with well-capitalized companies, CVAF accelerates development of new treatments for patients while also positioning the fund to generate significant returns on investment so that the model can become self-sustaining.
Fund Objectives
In order to support the costs of ~4-5 high priority clinical trials each year, CVAF is committed to raising $40 million by 2016.
To date, the fund is more than halfway to its goal thanks to significant support from CVAF's growing roster of notable "Founding Director" philanthropists.
CVAF's trial and partnership pipeline for 2013-2014 is extraordinarily robust and we continue to seek new philanthropic backers to support this novel model and accelerate the development of better immunotherapies for more types of cancer.
Join a Distinguished Community of Investors
Lead Founding Directors
Michael M. Kellen, Co-President, Arnhold & S. Bleichroeder Holdings
Donald J. Gogel, President & CEO, Clayton, Dubilier & Rice
Lief D. Rosenblatt, Manager, ENE Investco Management
Paul C. Shiverick, Partner, Seminole Management Co
Howard Schiller, Executive VP & CFO, Valeant Pharmaceuticals
Richard M. DeMartini, Managing Director, Crestview Partners
Brian Riano, CEO, Claren Road Asset Management
Frank V. Sica, President, Menemsha Capital Partners
Founding Directors
Edgar R. Berner, Partner, John Lang, Inc.
Peter L. Bloom, Managing Director, General Atlantic
James M. Citrin, Co-Leader, Board & CEO Practice, Spencer Stewart
Geoffrey O. Coley, Managing Director, Gleacher & Company
John B. Fitzgibbons, Owner, J Fitzgibbons LLC
Alexander P. Lynch, Global Chairman, F.I.G., J.P. Morgan
James F. McCann, Founder and CEO, 1-800-FLOWERS
Thomas G. Mendell, Owner, T.G. Mendell Corp
Andrew M. Paul, Managing GP, Enhanced Equity Fund
Michael B. Targoff, CEO, Loral Space and Communications
Interested in Learning More?
You can experience a new kind of results-driven philanthropy that's guaranteed to significantly move the needle in cancer research.
Contact CVAF managing director Adam Kolom at akolom@cancerresearch.org or by calling 212-792-5214.