BOSTON--(BUSINESS WIRE)--The JDRF T1D Fund, the venture philanthropy fund focused on accelerating life-changing solutions to cure, prevent, and treat type 1 diabetes (T1D) through catalytic investments, today announced the expansion of its investment team with the addition of Steven St. Peter, M.D., as a Managing Director. Based in Boston, Dr. St. Peter will work alongside Executive Chairman Sean Doherty and Managing Director Katie Ellias to advance and broaden the T1D Fund's capabilities and expertise in a valuable leadership role on the 11-person fund team.
Dr. St. Peter brings to the T1D Fund 20-years of experience as a life sciences investor and executive. He most recently founded, took public and served as CEO of Aratana Therapeutics, Inc., an animal health company focused on developing and commercializing innovative pet therapeutics. Dr. St. Peter was previously a Managing Director at MPM Capital, a healthcare investment firm experienced in founding and investing in life-sciences companies that seek to translate scientific innovations into cures for major diseases. Dr. St. Peter helped found and invest in companies such as Aratana and Rhythm Pharmaceuticals (NASDAQ:RYTM) and he has led other investments across the pharmaceutical and medical technology sectors including such companies as Syndax Pharmaceuticals (NASDAQ: SNDX), Proteon Therapeutics (NASDAQ:PRTO), EKR Therapeutics and others. His experience also includes positions at Apax Partners and The Carlyle Group, and as an Assistant Clinical Professor of Medicine at Columbia University.
“Steven brings an exceptional investment track record and leadership experience to our team, and we are thrilled to welcome him as a Managing Director,” said Doherty. “This is an exciting time for the Fund as we continue to demonstrate our ability to attract new people, capital and ideas to our fight against this complicated disease, and Steven will help lead our efforts to catalyze an investment market in T1D.”
“Joining the T1D Fund aligns perfectly with my primary professional motivators of impact and innovation. It’s a tremendous opportunity to be part of this mission-focused team leading the charge in combating this disease by investing across a diverse set of innovative companies developing life-saving products,” said Dr. St. Peter. “I look forward to investing the fund strategically, bringing new sources of private capital into the space, and helping our companies accelerate the realization of disease-modifying therapies.”
Dr. St. Peter received a Doctor of Medicine degree from Washington University and completed his residency and fellowship at the Hospital of the University of Pennsylvania. He also holds an M.B.A. from the Wharton School of the University of Pennsylvania and a B.A. in Chemistry from the University of Kansas. Previously, Dr. St. Peter served on the Executive Committee & Board of Directors of the New England Venture Capital Association.
Since launching in December 2016 with $32 million of seed funding from JDRF, the T1D Fund has invested in 16 innovative companies across therapeutics, devices, and diagnostics. Through these investments, the Fund is demonstrating to venture, corporate and other industry capital sources that attractive, impactful investment opportunities exist in the T1D space. The T1D Fund is an evergreen fund that currently manages approximately $90 million in committed capital.
About the JDRF T1D Fund
The JDRF T1D Fund (www.t1dfund.org) is a venture philanthropy fund accelerating life-changing solutions to cure, prevent, and treat type1 diabetes (T1D) through catalytic commercial investments. Through its investments in partnership with private capital, including venture capital, corporations and foundations, the T1D Fund seeks to attract the private investment necessary to advance drugs, diagnostics, and devices into the hands of those living with T1D. The T1D Fund invests in areas strategically aligned with JDRF, the leading global organization funding T1D research, with an exclusive focus on supporting the best commercial opportunities. The T1D Fund will reinvest any realized gains into new investments to further its mission.