American Cancer Society BrightEdge Annual Report Reveals Impact of $43 Million Deployed to Advance Innovation and Healthcare Access

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Oct 28, 2024, 10:26 ET

ACS Impact Venture Fund (AIVF)'s active portfolio of 16 companies is transforming the fight against cancer through impact investing

BOSTON, Oct. 28, 2024 /PRNewswire/ -- BrightEdge LLC, the American Cancer Society's (ACS) venture capital and impact investment arm, has published its most recent annual report highlighting progress in the fight to end cancer as we know it. Since inception through EOY 2023, BrightEdge has invested a total of $43 million in 21 companies focused on developing innovations to address critical needs along the cancer care continuum.

BrightEdge invests in for-profit, early-stage companies developing cancer-focused therapeutics, diagnostics, devices, and technologies. Investment gains are fully reinvested in the ACS Impact Venture Fund portfolio.

By making investments in cancer-focused companies that align to 10 mission priorities areas defined by ACS, BrightEdge is leveraging commercialization of technology to address cancer health equity, improve patient outcomes and survivorship, prevent disease, make clinical trials and healthcare more accessible, and drive cancer care quality and sustainability. These investments have the potential to impact more than 3.5 million patients and their families in the fight against cancer.

"Our portfolio companies are tackling many challenging aspects of cancer research and care," said Alice Pomponio, managing director at BrightEdge. "By investing both financial and strategic capital at critical stages of development, we're helping to deepen impact for cancer patients and harnessing entrepreneurial talent and technology to deliver ACS's mission in novel ways at scale."

In 2023, BrightEdge investments facilitated progress in the fight against cancer and included new investments in early cancer detection and screening (Mercy BioAnalytics), brain cancer treatment (Modifi Bio), and novel immunotherapy (Clasp Therapeutics).

BrightEdge's annual report reflects the fund's commitment to addressing the unequal impacts of cancer across populations and bridging the "valley of death" in cancer research. By catalyzing market activity in areas of highest impact and unmet need and delivering ACS's mission through entrepreneurial startup companies, BrightEdge is working towards a future where cancer is no longer a death sentence. These efforts are guided by a rigorous Cancer Impact Investment Framework™ (CIIF) assessment and due diligence process to ensure that investments are likely to be both impactful and financially viable.

"BrightEdge raises the bar on cancer impact definition and measurement and seeks to advance the field of impact investing in healthcare," said Pomponio. "Our hope is that this work contributes more detailed understanding of both financial and social returns, opportunities and risks in product development to drive impact, and the differentiated role American Cancer Society plays as a value-add investor."

To view the full 2023 Annual Report and 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 2023 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 110 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, X, and Instagram.

SOURCE American Cancer Society