CURE® AND DEERFIELD MANAGEMENT OPEN 2025 XSEED AWARD APPLICATIONS

Up to $500,000 in Funding to Support NYC-based Minority- and Women-Led Life Science Startups Working on Novel Drug Development

NEW YORK, Jan. 6, 2025 /PRNewswire/ -- Cure.®, a healthcare innovation campus in New York City, in partnership with Deerfield Management Company, has opened applications to the 2025 XSeed Award, with plans to provide up to $250,000 each to two teams of minority- or women-led life science and healthcare startups based in New York City working on novel drug development projects.

"The XSeed Award underscores Deerfield's commitment to fostering innovation, diversity, and collaboration within New York City's life science and healthcare ecosystem," said James E. Flynn, Managing Partner at Deerfield and Cure Founder. "By supporting minority- and women-led startups with critical funding, the XSeed Award aims to accelerate the development of transformative therapies while building a more inclusive environment for healthcare innovation."

Deerfield Management and the New York City Economic Development Corporation (NYCEDC) launched the XSeed Award as a yearly program in 2020, to provide funding to help address critical funding gaps for the diverse population of most talented researchers and entrepreneurs in New York City. Deerfield funds the award. Cure is an affiliate of Deerfield.

"The XSeed Award exemplifies Cure's mission to create a thriving, inclusive ecosystem where innovation and collaboration intersect to address some of healthcare's most pressing challenges," said Seema Kumar, CEO of Cure. "We are proud to support and empower life science and healthcare leaders in New York City whose groundbreaking work will shape the future of medicine and health equity."

The 2025 XSeed Award application submission deadline is February 28, 2025, and virtual finalist presentations will be April 17, 2025. The program will announce winners during a ceremony at Cure in May 2025.

In addition to funding, the two winning teams will join the Cure ecosystem and have the opportunity to receive mentoring designed to help them move promising translational research to the marketplace. In addition to advancing their research, the 2025 X-Seed Award winners will enhance their networks and visibility via the Cure ecosystem. Previous X-Seed Award winners may serve as mentors and coaches for future winners, further strengthening the entrepreneurial community in New York City.

"The XSeed Award reflects our dedication to creating a vibrant and inclusive life sciences sector in New York City," said New York City Economic Development Corporation (NYCEDC) Chief Strategy Officer Cecilia Kushner. "By empowering minority- and women-led startups, we're not only addressing funding gaps but also ensuring that novel therapies emerge from a diverse group of leaders to improve the future of healthcare."

XSeed Leadership Committee
Finalists will present their work to an esteemed panel comprised of the XSeed Award Leadership Committee, which includes Joseph Pearlberg, MD, PhD, Vice President of Scientific Affairs at Deerfield and Committee Chair; Claire Pomeroy, MD, President and CEO of the Albert and Mary Lasker Foundation; Christine Brideau, Vice President of Preclinical Pharmacology, Deerfield Discovery and Development at Deerfield; Glennis Mehra, Ph.D., Director of Biolabs@NYULangone; and Jane Williams, MD, MPH, Vice President, Head of Neuroscience, Rare Disease and Pediatrics at Syneos Health.

To learn more about the XSeed Award's applicant eligibility criteria and to submit applications, visit https://wewillcure.com/network/xseed-award.

About Deerfield Management
Deerfield is an investment management firm committed to advancing healthcare through investment, information, and philanthropy. The Firm works across the healthcare ecosystem to connect people, capital, ideas, and technology in bold, collaborative, and inclusive ways. For more information, please visit www.deerfield.com.

About Cure.
Cure is a healthcare innovation campus in the heart of New York City that features laboratory and business facilities, a collaboration residency, office space and premium event venues, including an education center, conference center, and iconic rooftop facility, as well as tools, mentoring, networking, and other assistance to members of its ecosystem. Cure houses on-campus startups and established companies. Residents regularly create synergies and collaborative partnerships with peer organizations across the spectrum of healthcare, from academic or private to non-profit or government, and focus on diagnostic, device, drug or vaccine discovery, development and production as well as care delivery and public health. Cure also offers industry-leading event programming focused on critical health topics. Cure's mission is to foster and accelerate advances in health. For more information, please visit wewillcure.com.

SOURCE Cure