Great Lakes Discoveries LLC

What Great Lakes Discoveries LLC does

Great Lakes Discovery LLC is a translational research funding vehicle established on May 27, 2020 as a partnership between Deerfield Management, a healthcare investment firm, and the University of Michigan. The entity provides capital and operational support to University of Michigan principal investigators working on therapeutic discovery, with the stated goal of advancing selected projects to Investigational New Drug (IND) readiness. In exchange for funding, Great Lakes Discovery receives options to license intellectual property developed under the collaboration. Deerfield has committed up to $130 million over ten years to fund biomedical research at U-M through this vehicle.

The company does not develop proprietary technology or products itself. Its core activity is selecting, funding, and operationally supporting academic research projects — channeling Deerfield's drug development expertise, capital, and resources into projects with translational potential. The first project under the partnership was announced in January 2023, supporting Dr. David Markovitz's laboratory in pursuing a therapeutic treatment for systemic inflammation through what the company terms its "Exploratory Biologics Initiative." Projects that achieve IND-enabled status may become eligible for additional capital from Deerfield, with potential spin-off company formation as a commercialization pathway.

Great Lakes Discovery is not structured as a conventional commercial enterprise. It has no products or services with traditional pricing, and its only documented revenue mechanism is contingent IP licensing from funded projects. The entity is wholly owned and controlled by Deerfield Management, with the University of Michigan participating as a research partner rather than as an equity owner. It operates from a corporate headquarters in New York (345 Park Avenue South, 12th Floor) while maintaining its primary research collaboration at the University of Michigan in Ann Arbor. Headcount is minimal (1–10 employees), with at least one named Scientific Collaboration Director (Seohee You, PhD) embedded between U-M faculty and Deerfield's drug discovery organization.

Name

Great Lakes Discoveries LLC

Legal name

Great Lakes Discovery, LLC

Website

https://greatlakes-discovery.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Short description

Great Lakes Discovery LLC is a Deerfield Management-funded translational research vehicle that partners exclusively with University of Michigan faculty to advance biomedical projects toward Investigational New Drug readiness in exchange for IP licensing options.

Ownership category

akta.pro rank

Product category

Translational Research Funding / Drug Discovery Partnership

NAICS

Research and Development in Biotechnology (except Nanobiotechnology) (541714)

SIC

Services-Commercial Physical & Biological Research (8731)

akta.pro primary industry

Drug Discovery (Target ID/Validation & Hit Discovery) (HLAIALAA)

akta.pro secondary industry

Target Identification & Validation Platforms (omics-driven, chemoproteomics, genetic validation) (HLAAAIAI)

Keywords

• Translational research funding
• Drug discovery partnership
• Biomedical research investment
• IND readiness support
• Academic-industry collaboration

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D

Revenue model

1. Intellectual Property Licensing: Great Lakes Discovery receives options to license intellectual property developed at the University of Michigan under the collaboration agreement in exchange for funding provided to researchers. Successful projects achieving IND-enabled status may be eligible for additional capital from Deerfield.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Great Lakes Discovery is a research funding and operational support entity created by Deerfield Management in partnership with the University of Michigan to advance biomedical research projects from academic laboratories toward Investigational New Drug (IND) readiness. It provides capital and drug development expertise to selected U-M researchers and, in exchange, receives options to license the intellectual property that is developed under the agreement.

Product overview

Great Lakes Discovery is a single-purpose entity created by Deerfield Management to partner exclusively with the University of Michigan. The company funds translational research and provides operational support to help projects achieve IND (Investigational New Drug) readiness. The main offering is the funding and development program, with the Exploratory Biologics Initiative as a specific pathway within it. Successful projects achieving IND-enabled status may receive additional capital from Deerfield, and Great Lakes Discovery receives options to license resulting intellectual property.

Differentiator

Problem solved

Functional benefit

Products and services

• Great Lakes Discovery Translational Research Program A funding and operational support program for University of Michigan biomedical researchers developing therapeutic projects, providing capital and Deerfield drug development expertise aimed at achieving Investigational New Drug (IND) readiness. In exchange for funding, Great Lakes Discovery receives options to license intellectual property developed under the agreement.
• Exploratory Biologics Initiative An initiative under Great Lakes Discovery that facilitates University of Michigan researchers in pursuing exploratory biologics therapeutic treatments, with the first project supporting Dr. David Markovitz's therapeutic for systemic inflammation.

Quantifiable outcome

• Up to $130 million in potential capital deployment over ten years for University of Michigan biomedical research
• +1 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core and supporting.

• University of MichigancoreStrategic or Co-development Partner · 27 May 2020Great Lakes Discovery was created through a partnership between Deerfield Management and the University of Michigan. The collaboration aims to accelerate translation of research from U-M faculty laboratories into clinical therapeutics. Deerfield committed up to $130 million over a decade to invest in biomedical research at U-M. Projects selected receive funding and operational support aimed at achieving Investigational New Drug (IND) readiness.
• Cure.supportingStrategic or Co-development PartnerCure. is a Deerfield affiliate and premier healthcare innovation ecosystem headquartered in New York City. Its mission is to accelerate cures by helping health innovators develop groundbreaking products and services from concept to commercialization. Cure. recently launched the Cure Innovation Index, which ranks U.S. biomedical institutions by factors associated with successful translation of scientific research into health impact.
• Michigan Drug DiscoverysupportingStrategic or Co-development PartnerMichigan Drug Discovery is a campus-wide initiative at the University of Michigan to translate academic discoveries into new advances in medicine. Peter Toogood serves as Director of Michigan Drug Discovery and is part of the Joint Steering Committee for Great Lakes Discovery. The initiative supports the translation of U-M discoveries into therapeutic candidates.

Scale indicators2 records

Recent moves7 records

Expansion highlights4 records

Direct peers

• BridgeBio Pharma: Translational medicine company focused on advancing academic and early-stage discoveries to clinical proof-of-concept across multiple therapeutic areas. Operates a hub-and-spoke model with centralized capital and expertise supporting disease-specific programs, similar in structure to Great Lakes Discovery's U-M focus.
• Roivant Sciences: Creates subsidiary companies around academic and pharmaceutical assets, providing operational and capital support to advance programs to clinical milestones. Mirrors Great Lakes Discovery's model of packaging academic IP into funded development entities with a path to spin-off formation.
• Harvard Blavatnik Biomedical Accelerator: Harvard-affiliated translational research funding vehicle providing gap funding and development support to advance faculty discoveries toward commercialization. Directly comparable in providing both capital and operational support aimed at IND-readiness at a top-tier research university.
• Stanford ChEM-H: Stanford University institute supporting translational research at the chemistry/medicine interface, funding and accelerating faculty discoveries toward therapeutic development. Comparable university-anchored translational funding model with similar target of advancing academic IP to clinical candidates.

Broad incumbents

• ARCH Venture Partners: Venture firm that creates and funds biotech companies built around breakthrough academic research, including deep partnerships with university research institutions. Similar in providing patient capital and development expertise to advance academic discoveries toward clinical milestones.
• Baker Bros. Advisors: Healthcare-focused investment firm specializing in biotech and life sciences companies across all stages, often with significant academic and early-stage translational exposure. Comparable as a long-duration healthcare capital provider with operational support and IP licensing expertise.
• Atlas Venture: Early-stage biotech venture firm that partners with academic founders to launch new therapeutic companies, providing capital and drug development expertise. Comparable operating model of converting academic science into funded development programs with potential for spin-off creation.
• Deerfield Management: Parent organization and sole capital provider of Great Lakes Discovery. Deerfield is a large healthcare investment firm running similar translational research collaborations with multiple academic institutions, making it the directly comparable institutional operator with the same playbook at broader scale.

Emerging players

• Casdin Capital: Life sciences investment firm focused on breakthrough biotech innovations often emerging from academic research. Comparable in providing long-term capital to translate scientific discoveries into commercial therapeutics, though operates as a traditional fund rather than a university-anchored vehicle.
• Vanderbilt Center for Neuroscience Drug Discovery: Vanderbilt University translational drug discovery center that develops small molecule therapeutics from academic research through preclinical and IND stages. Comparable as a university-based translational research entity, though more therapeutic-area focused (neuroscience) than Great Lakes Discovery's broader biologics/small molecule scope.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Great Lakes Discoveries LLC