Partners HealthCare has created two new investment funds to support innovation in the realms of artificial intelligence, digital technology and pre-clinical life sciences, the Boston-based health system announced Oct. 21.
The Artificial Intelligence and Digital Translation Fund boasts initial funding of $30 million over five years. It will be used to back Partners’ active vendor companies in a “real-time lab” approach, in which the companies’ new digital solutions will be tested and adapted in Partners’ clinical operations.
The second fund, which will receive $50 million over six years, is the Translational Innovation Fund. It will help Partners researchers and investigators advance potential therapeutics through the drug discovery pipeline to the pre-clinical development stage.
“Too often, what could be game-changing research is stranded due to lack of financing between initial funding and longer-term venture investment,” said Chris Coburn, Partners’ chief innovation officer. “These funds will address these gaps and provide the resources to quickly advance technologies in some of the most promising areas of healthcare such as immune oncology, intelligent devices and remote care.”