NeuroNetworks Unites Venture Fund and Charitable Giving to Support Autism, Epilepsy and Schizophrenia Medical Innovation

News provided by

NeuroNetworks Fund

Sep 30, 2015, 10:33 ET

NEW YORK, Sept. 30, 2015 /PRNewswire-USNewswire/ -- NeuroNetworks, a Venture Philanthropy Fund officially launched a unique business model today for moving treatments and therapies for epilepsy, autism and schizophrenia more rapidly from the lab to the people who need them. The Fund, a nonprofit 501(c) (3) melds venture capital and charitable giving under one umbrella, providing a continuous circle of investment in promising research in neuro-disorders.

The Fund wants to help fill the gap between government funding, which has grown scarcer in recent years and private capital that has become more risk adverse regarding drug development in the neurodisease sector.

Under this model, the Fund will begin a major philanthropic fund-raising campaign and use the charitable donations to invest in entrepreneurial companies developing new drugs and diagnostics. All investment returns then will be recycled to allow to the Fund to continue its charitable mission and become self-sustaining. "The need is urgent for the patients and the families suffering from these diseases," said co-founders Sandra Panem, president, and Brian Horsburgh, treasurer.

Dr. Panem said the outreach would be broad. "We will work with all stakeholders-patient advocacy groups, universities, foundations, and pharmaceutical and biotech companies. "

Dr. Horsburgh said, "as a scientist, entrepreneur and parent of a child with autism, I appreciate the challenges in developing better treatment for neurodiseases. But, I also know that it is incumbent on those of us who stand to benefit most from the advances to help close that gap and provide necessary crucial bridge funding."

More information is available at www.neuronetworksfund.org

About Autism, Epilepsy and Schizophrenia

  • 1 IN 100 Americans with autism, schizophrenia or epilepsy
  • 1 IN 68 children with autism
  • Nearly 1 out of every 3 classrooms in the U.S. has a student on the autism spectrum.
  • >$200 BILLION The economic cost to individuals, care givers and society for these neurodisorders.
  • For every 1 clinical trial conducted in autism, there 1.9 in epilepsy, 4.1 in schizophrenia and 83 in cancer (source: clinicaltrials.gov)

Please visit www.neuronetworksfund.org to learn how you can donate and make a difference.

SOURCE NeuroNetworks Fund

Related Links

http://www.neuronetworksfund.org

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