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American Cancer Society's Impact Investment Fund Secures First Three Contributions

ATLANTA, Nov. 16, 2021 /PRNewswire/ -- The American Cancer Society's impact investment fund, BrightEdge LLC, today named its first Founder's Circle members, securing contributions totaling $2.5 million. Launched with an initial $25 million investment from the American Cancer Society (ACS), the mission-driven fund invests in for-profit, early-stage companies developing cutting-edge, cancer-focused therapeutics, diagnostics, devices, and technologies. The impact investment donations are BrightEdge's first since its formation.

The American Cancer Society's impact investment fund, BrightEdge LLC, today secured contributions totaling $2.5 million.

"The Founder's Circle comprises a select group of trailblazers -- individuals, families, foundations, and companies who want to invest their compassion, experience, leadership, and financial support to help fulfill American Cancer Society's mission to eradicate cancer," said Alice Pomponio, Managing Director of BrightEdge. "Each of our Founder's Circle members shares a common belief in patient-centric innovation and the value of market-based approaches to advance science and reduce cancer mortality."

Membership in the American Cancer Society BrightEdge Founder's Circle requires a minimum $500,000 commitment over four years. BrightEdge has set a fundraising and portfolio performance target to grow the fund to $100 million by 2023.

Pomponio, a former life sciences executive who also teaches biomedical innovation and healthcare entrepreneurship at Harvard-MIT Sloan Health Care Ventures and MIT LinQ Catalyst, has led BrightEdge since January 2021. In addition to a $1 million contribution received from an anonymous donor, today she announced BrightEdge's first Founder's Circle members:

"Every philanthropist should consider investing in a fund model structured along the lines of BrightEdge," said Nancy Chan, Wood Next's Director of Philanthropy. "We're proud to be among the first Founder's Circle members and actively join the fight against cancer. In particular, donors with a background in entrepreneurship and venture capital ? who also have a strategic philanthropy mindset ? should consider adding BrightEdge to their portfolios."

"BrightEdge is the perfect vehicle to translate the philanthropic passion that Stacy and I share into tangible action to support the American Cancer Society's efforts to fuel life-saving research and provide cancer patients with wide, equitable access to quality healthcare and support services," said Abel. "We're 100% committed to supporting BrightEdge's work to invest in groundbreaking patient-centric solutions and endow American Cancer Society for the future."

BrightEdge makes equity investments in private companies to translate cancer research into commercially accessible solutions, while generating financial returns to help sustain ongoing cancer research and patient services. Opportunities are identified based on high impact priority areas and unmet needs, and investment decisions are made based on potential financial return and ability to achieve mission-driven social impact.

Investment returns from the BrightEdge portfolio are reinvested in both the BrightEdge fund and ACS' life-saving programs in research, access, and health equity. Since its formation in 2019, BrightEdge has invested $13.4 million in innovative cancer-related startups -- to propel ground-breaking patient-centric solutions.

BrightEdge's latest investments include Immunitas Therapeutics, which is developing immune oncology therapies based on prior American Cancer Society-funded research; and TailorMed, a digital financial navigation platform that helps remove financial barriers to cancer care. The fund's portfolio now comprises 12 innovative companies working on solutions across the cancer-patient continuum -- from prevention/wellness, awareness/discovery, and testing to diagnosis, treatment and recovery management, thus deepening the Society's mission to reduce cancer mortality and achieve health equity for all patients and families.

About BrightEdge
BrightEdge is the American Cancer Society's donor-funded impact venture capital fund. The fund invests in for-profit companies that are developing therapeutics, diagnostics, medical devices, and technologies to eradicate cancer in ways aligned with the American Cancer Society's impact pillars. It seeks to invest alongside top-tier life sciences and healthcare investors with a goal of generating financial returns over a four- to seven-year timeframe. Returns are generated when a portfolio company either goes public or is acquired by a strategic investor.

The fund's goal is to accelerate delivery of promising cancer-related solutions through capital investment, market awareness, and a shared commitment to eradicate cancer. For more information, visit www.brightedgefund.org.

About the American Cancer Society
The American Cancer Society is on a mission to free the world from cancer and to ensure that everybody has a fair and just opportunity to prevent, find, treat, and survive cancer. The Society invests in lifesaving research, provide 24/7 information and support, and work to ensure that individuals in every community have access to cancer prevention, detection, and treatment. For more information, visit cancer.org.

SOURCE American Cancer Society

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News published on 16 november 2021 at 08:00 and distributed by: