A significant partnership has emerged between İş Private Equity, a Turkish investment firm, and a laboratory led by Gökhan Hotamışlıgil, a prominent genetics and metabolism professor at the T.H. Chan School of Public Health. With a commitment of $39 million, İş Private Equity aims to support Hotamışlıgil’s research and intends to invest further in any drug candidates developed through a newly established biotech firm named Enlila.
While this investment can be considered modest in the expansive world of investment banking, it arrives at a crucial juncture when traditional funding models for scientific research are increasingly uncertain.
In the early months of President Donald Trump’s administration, a substantial reduction in government support was witnessed, with at least $1.8 billion in National Institutes of Health grants received cancellations. Many academic labs and research institutions felt the pinch, and Harvard University, along with the Chan School, has been notably affected.
It was reported that roughly 59 percent of the Chan School’s operating revenue came from federal and external funding sources last year, compared to the 35 percent that funded Harvard Medical School. Additionally, over 130 federal grants for research at the Chan School faced cancellations in recent weeks.
Notably, the partnership with İş Private Equity had commenced discussions prior to the significant cuts to federal research funding. These conversations began last year when Hotamışlıgil participated in a symposium in Turkey celebrating the centennial of İşbank Group, where he presented his extensive research on fatty acid binding proteins (FABPs).
FABPs, crucial hormones produced in fat cells, are linked to several health issues, including obesity, type 1 and type 2 diabetes, and cardiovascular diseases. Hotamışlıgil’s presentation captured the attention of İşbank’s chief executive, sparking interest in collaboration.
Hotamışlıgil has been vocal about the challenges of securing funding for scientific discovery, describing the shift toward conservative funding models that heavily emphasize predictable outcomes. He expressed disbelief at the drastic pullback from funding in the United States, especially given its historical support for successful research institutions.
The recent funding cuts have left many staff and faculty at the Chan School grappling with feelings of grief and frustration. Amanda Spickard, associate dean for research strategy and external affairs, noted that the staff is now working to find innovative solutions to replace the lost research funding.
In a letter disseminated last week, Dean Andrea Baccarelli reviewed strategies aimed at filling the financial void. Among these strategies is a proposal to solicit $100,000 gifts from corporate partners to financially assist PhD students and postdoctoral fellows. According to Sarah Branstrator, managing director of academic strategy and research partnerships at the Chan School, this initiative has garnered positive responses from corporate leaders eager for skilled personnel.
Officials at the Chan School are optimistic that the collaboration with İşbank could pave the way for further privately funded laboratories. Historically, there have been isolated cases where investment firms have chosen to fund specific research projects or university centers in exchange for preferential access to emerging scientific innovations.
For instance, Harvard’s Wyss Institute has engaged in a partnership with Northpond Ventures over the last five years, initially committing $12 million in 2020 before securing additional funding. Similarly, New York investment firm Deerfield Management has been proactive in early-stage research funding, committing around $390 million toward collaborations with various prestigious universities.
Hotamışlıgil’s laboratory may be uniquely positioned to attract investment, especially considering the rising interest in metabolic research following the success of GLP-1 weight loss medications developed by Eli Lilly and Novo Nordisk. Despite the challenging landscape, startups focusing on obesity-related treatments continue to secure significant investment capital.
Conversely, fields such as infectious diseases and vaccine research face difficulties in attracting financial support, primarily due to the high costs associated with developing new vaccines and the inherent risks involved in clinical trials.
Hotamışlıgil suggested that while it may be overly optimistic to claim government funding could be entirely substituted, the ongoing developments do offer promising opportunities for researchers. He firmly believes that alternative funding methods could provide much-needed support for scientific endeavors moving forward.
In a time of significant change in the landscape of scientific funding, collaborations like the one between İş Private Equity and Hotamışlıgil’s lab present a silver lining amidst an otherwise wavering financial backdrop.
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