DFN Foundation launches £15M myeloma fund, targets £30M total
What's the deal? The DFN Charitable FoundationDealroom has a profile for this one. Try Dealroom → has launched the Jacquelin Forbes-Nixon Myeloma Fund with £15 million already committed, targeting £30 million to accelerate treatments for myeloma, an incurable blood cancer. The initial sum includes £10 million from the foundation and £5 million from philanthropist and investor David Forbes-Nixon OBE, the latter subject to matched donor support.
What's the endgame? The fund will back early-stage science and biotechnology ventures deemed too early or high-risk for traditional commercial investment. It runs on an evergreen model, reinvesting any returns into future myeloma projects rather than operating as a one-off grant programme.
Why now? Myeloma affects around 16 people every day in the UK and claims eight lives daily. About a third of patients are diagnosed only after an emergency presentation.
Who's behind it? Forbes-Nixon, founder and chairman of the DFN Foundation, said he launched the effort in memory of his mother. "When my mother Jacquelin died from myeloma, I promised her I would do everything I could to help find a cure," he said. He added that "too many promising ideas still struggle to secure investment because they are considered too early or too risky."
What could go wrong? The remaining £15 million depends on attracting further donors, and Forbes-Nixon's own £5 million is contingent on matched support. Managing director Stephanie Oestreich noted the challenge ahead: "There is outstanding science emerging in myeloma, but excellent science does not automatically become a treatment."
The signal: The fund enters an established venture philanthropy market — the US-based Myeloma Investment FundDealroom has a profile for this one. Try Dealroom → says it has committed $30 million to 21 companies since 2019. Its significance will hinge on what it backs and whether it converts philanthropic capital into projects that reach patients, rather than on the launch alone.
Read more: pharmatimes.com
Image credit: Generated with Gemini
