Key Takeaways:
- ACS BrightEdge’s annual report reveals its portfolio of 18 companies could potentially impact over 1.5 million lives by advancing cancer-focused therapies and technologies.
- The Cancer Impact Investing Framework (CIIF) guides BrightEdge’s investments, spanning the entire cancer journey from prevention to recovery.
- BrightEdge’s strategic investments contribute to financial growth, with $28.9M invested and $3.1B collectively raised by portfolio companies.
In a groundbreaking move to revolutionize cancer care and treatment, BrightEdge LLC, the venture capital and impact investment arm of the American Cancer Society (ACS), has unveiled its annual report. The report outlines how the organization’s investment portfolio, consisting of 18 diverse companies, stands poised to positively impact the lives of more than 1.5 million cancer patients and their families. This remarkable achievement is underpinned by BrightEdge’s proprietary Cancer Impact Investing Framework (CIIF), which meticulously evaluates and measures the potential impact of investments in alignment with ACS’s mission to eradicate cancer.
Empowering the Cancer Journey with Innovative Investments
Guided by the CIIF, ACS BrightEdge’s investments span every phase of a cancer patient’s journey, ranging from prevention and wellness to diagnosis, treatment, and recovery. Alice Pomponio, Vice President of Innovation and Impact Investing and Managing Director of BrightEdge, stated, “This diverse portfolio has the potential to deliver blended financial and social impact across the cancer care continuum, accelerating ACS’s vision of ending cancer for everyone.”
Through CIIF’s guidance, BrightEdge’s investments in four new companies in 2022 – CellCentric, Paradigm, Vincere Health, and Naveris – represent pivotal steps toward advancing cancer care. These companies are spearheading innovations that enhance access to oral treatment options for blood cancer patients, promote equitable representation in clinical trials, aid smoking cessation efforts, and enable early cancer detection for viral-related cancers. Additionally, BrightEdge has provided follow-on financing for five existing portfolio companies, further solidifying its commitment to groundbreaking advancements.
A Financial and Impactful Success Story
ACS BrightEdge’s commitment to propelling cancer-focused innovations is evidenced by its investment of $28.9 million to date from the donor-funded ACS Impact Venture Fund (AIVF). The collective efforts of the portfolio companies have resulted in an astounding $3.1 billion in raised funds for cancer-fighting innovations. The organization’s annual report also heralds investment gains of $9.7 million and a gross asset value of $78 million at the close of 2022.
Dr. Karen E. Knudsen, CEO of the American Cancer Society, applauded BrightEdge’s contributions, emphasizing that the collaboration between ACS and BrightEdge is not only accelerating patient-centric therapies and technologies but also providing alternative funding avenues to realize the vision of ending cancer. “Together, we’re advancing science, reducing disparities, and building sustainability,” she stated, expressing her gratitude for BrightEdge’s impactful role.
Catalyzing Innovation Through BrightEdge
The inception of BrightEdge in 2019 by ACS marked a paradigm shift in funding strategies for cancer-fighting organizations. Beyond its role as a catalyst for market activity, BrightEdge is positioned as a potent stream of alternative income to bolster ACS’s efforts in combating cancer. This forward-thinking initiative operates akin to traditional venture capital, backing for-profit, early-stage companies engaged in developing cancer-focused therapeutics, diagnostics, medical devices, and technologies.
BrightEdge’s investment choices, however, transcend profit motives; they align with ACS’s overarching mission-driven priorities across the patient care continuum. From tackling the root causes of cancer to promoting healthy lifestyles and prevention, enabling accurate screening and diagnosis, and supporting survivorship and health equity, BrightEdge’s investments are a testament to its dedication to holistic cancer care.
A Glimpse into the Future: ACS BrightEdge’s Vision
The unveiling of ACS BrightEdge’s annual report provides a promising glimpse into the future of cancer care and treatment. By meticulously choosing investments that marry financial growth with impactful innovation, BrightEdge is steering the course toward realizing ACS’s vision of a cancer-free world. As the organization’s investments continue to pave the way for groundbreaking advancements in cancer therapies and technologies, the landscape of cancer care is set to evolve, ushering in a new era of hope, empowerment, and progress.
About ACS BrightEdge
ACS BrightEdge is the American Cancer Society’s innovative and impact investment arm, dedicated to funding for-profit companies developing cutting-edge therapeutics, diagnostics, medical devices, and technologies to combat cancer. Collaborating with leading life sciences and healthcare investors, its goal is to achieve both financial returns and transformative patient impact. To access the fund’s comprehensive 2022 report, please visit www.acsbrightedge.org.
About the American Cancer Society
For over a century, the American Cancer Society has been at the forefront of the fight against cancer, advocating, researching, and supporting patients and their families. With a steadfast vision to eradicate cancer, the organization’s efforts encompass prevention, detection, treatment, and survivorship. To learn more about their mission and services, visit cancer.org or call the 24/7 helpline at 1-800-227-2345. Stay connected on social media through Facebook, Twitter, and Instagram.
Want to amplify your startup’s story? EU Startup News is your launchpad to reach startup founders, investors, and C-level execs across Europe. Discover our tailored promotional strategies such as Sponsored Articles and Partnerships. Click here to learn more or contact us directly at [email protected]. Join us, and let’s make your startup the talk of Europe!
