March 10, 2021 – Coridea and Deerfield Management Company announced a collaboration, Deerfield Device Design and Development Catalyst (Deerfield Catalyst), to advance medtech innovation and accelerate the formation of commercial companies.
The initiative combines the resources of Coridea, a medtech incubator, and Deerfield, a healthcare investment firm committed to advancing healthcare through investment, information and philanthropy, with over $14 billion in assets.
Deerfield Catalyst will be a founding ecosystem member of the newly developed Cure building, a healthcare innovation and collaboration campus based in midtown Manhattan.
The incubator will provide its companies with discipline and expertise in a collaborative ecosystem. The companies say the team will be able to efficiently move projects through key early-stage milestones including needs assessment, concept generation, rapid prototyping, and pre-clinical and clinical evaluation.
Deerfield Catalyst will source new projects and companies through internal ideation and external collaboration with academic or individual partners.
The partnership aims to launch 10 new companies over the next five years.
Structured to support company formation and growth, the incubator includes funding for operating expenses, early idea generation, and project and company evaluation.