American Cancer Society’s Impact Venture Fund Announces Annual Results and New Framework that Measures Investments’ Impact on Mission to End Cancer
BOSTON, Aug. 16, 2023 — BrightEdge LLC, the American Cancer Society‘s (ACS) venture capital and impact investment arm, published its most recent annual report, featuring how its portfolio of 18 companies has the potential to improve the lives of more than 1.5 million cancer patients and their families. BrightEdge’s estimate is based on its proprietary Cancer Impact Investing Framework™ (CIIF), which evaluates and measures the actual and potential impact of investments made in accordance with the ACS mission-driven priorities.
“Guided by CIIF, BrightEdge invests in innovations that span a patient’s cancer journey from prevention and wellness, to diagnosis, treatment and recovery,” said Alice Pomponio, vice president of innovation and impact investing and managing director of BrightEdge. “This diverse portfolio has the potential to deliver blended financial and social impact across the cancer care continuum to accelerate ACS’s vision of ending cancer as we know it, for everyone.”
Using CIIF, BrightEdge invested in four new companies in 2022: CellCentric, Paradigm, Vincere Health and Naveris. Respectively, these companies are developing innovations to improve access to novel oral treatment options for blood cancer patients, for clinical trials that promote equitable representation, in smoking cessation programs, and to enable early cancer detection for viral-related cancers. BrightEdge also participated in follow-on financings for five existing portfolio companies.
Across its 18 portfolio companies, BrightEdge has invested $28.9M to date from the donor-funded ACS Impact Venture Fund (AIVF). These companies have collectively raised more than $3.1B for their cancer-fighting innovations. In its annual report, BrightEdge also announced $9.7M in investment gains and a gross asset value of $78M at the close of 2022.
“BrightEdge works alongside ACS to not only accelerate patient-centric therapies and technologies but also provide alternative funding for our vision,” said Dr. Karen E. Knudsen, CEO of the American Cancer Society. “Together, we’re advancing science, reducing disparities and building sustainability, and I thank the BrightEdge team for their strong contribution over this reporting period.”
BrightEdge was created by ACS in 2019 to build a sustainable stream of alternative income for the nation’s leading cancer-fighting organization while catalyzing market activity in areas of highest impact and unmet needs. Like traditional venture capital, BrightEdge invests in for-profit, early-stage companies developing cancer-focused therapeutics, diagnostics, devices and technologies. In addition, BrightEdge intentionally selects investments that help to further ACS’s mission-driven priorities across the patient care continuum: causes of cancer, healthy lifestyle and prevention, screening and diagnosis, treatment, survivorship, and health equity.
To view the full 2022 Annual Report, click here, and for the infographic, click here.
About ACS BrightEdge
BrightEdge is the American Cancer Society’s donor-funded innovation and impact investment arm that invests in for-profit companies developing therapeutics, diagnostics, medical devices, and technologies to eradicate cancer. It invests alongside top-tier life sciences and healthcare investors with a goal of generating financial returns and patient impact. For more information and a copy of the fund’s 2022 report, visit www.acsbrightedge.org.
About the American Cancer Society
The American Cancer Society is a leading cancer-fighting organization with a vision to end cancer as we know it, for everyone. For more than 100 years, we have been improving the lives of people with cancer and their families as the only organization combating cancer through advocacy, research, and patient support. We are committed to ensuring everyone has an opportunity to prevent, detect, treat, and survive cancer. To learn more, visit cancer.org or call our 24/7 helpline at 1-800-227-2345. Connect with us on Facebook, Twitter, and Instagram.
SOURCE American Cancer Society
