The Fund for Alzheimer’s Drug Discovery is a distinct and exciting venture philanthropy vehicle within the larger ADDF organization that allows donors to contribute directly to emerging biotechnology. Minimum contributions are $50,000 and are dedicated to advancing drug discovery in the biotechnology industry and academia. We encourage individuals, foundations and corporations to participate in this fund opportunity, which has a $5 million to $10 million capital goal over four years, ending July 2009.
In the venture philanthropy model, funded scientists’ sign grant contracts agreeing to contractual milestones. Assuming those milestones are achieved, fund contributors may receive a pro rata return on their investment that can be assigned to a 501 (C) (3) organization. When the investment matures, 80% of the returns are disbursed to the contributor’s non-profit or a non-profit organization designated by the donor, and 20% of the returns remain with ADDF to be reinvested in further research. ADDF receives a management fee not to exceed a total of 8% of the investment over a maximum of four years.
Funds are awarded to researchers based first on the scientific merit of the proposal and secondarily on the potential for profit, which is an assessment of the market potential of the program. ADDF’s Scientific and Business Review boards participate in the selection of grant recipients.
Scientific and financial progress is reported at semi-annual Fund Investors Meetings. Contributors also receive investment reports, newsletters, and are recognized in the ADDF Annual Report.
To discuss Fund participation, please contact Howard Fillit, MD, Executive Director, at 212-935-2402 or hfillit@AlzDiscovery.org