JDRF, PureTech launch newco to fund Type I diabetes companies

The not-for-profit Juvenile Diabetes Research Foundation and PureTech Ventures launched T1D Innovations (Boston, Mass.) to create and fund companies developing therapies for Type I diabetes. JDRF committed $5 million to the newco and said the goal is to secure up to an additional $25 million from other investors, including not-for-profits and strategic investors. PureTech did not contribute funding but received an undisclosed equity stake in T1D Innovations. The VC firm will select the investments and launch up to 10 companies, contingent on T1D Innovations raising $30 million, with the first company to be launched in six months to a year. ...