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JDRF, PureTech Try Nonprofit Ownership To Fill Funding Gap For Diabetes Tech

Call it venture philanthropy with a twist: If all goes as planned, the Juvenile Diabetes Research Foundation will co-own a series of companies dedicated to type 1 diabetes treatments without violating tax code, thanks to a structure created by Boston’s PureTech Ventures.

As venture firms flee early-stage risk and big companies slash research budgets, nonprofit disease foundations have tried to help turn biomedical discoveries into products, pitching in for industry research programs. Now there’s a new twist: The high-profile and well-funded Juvenile Diabetes Research Foundation wants to build new companies.

The New York-based foundation is putting up to $5 million into ownership of a holding company dubbed T1D Innovations that...

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