The T1D Fund, an impact investment fund that focuses on solutions to treat, prevent and cure type 1 diabetes, on Wednesday named Elizabeth Mily as CEO. Mily has more than 30 years of pharmaceutical, health-care investment banking, and strategic leadership experience with firms such as Bristol Myers Squibb, Barclays and Goldman Sachs.
“Elizabeth brings a bold strategic vision to the T1D Fund during an exciting period of our evolution. She is the ideal choice to lead the next chapter as we identify and invest in cutting-edge approaches for treating type 1 diabetes,” said Tim Clark, Chair of the Board of Directors at the T1D Fund.
Under Mily’s leadership, the T1D Fund expects to build on its current momentum, growing its investment team and expanding strategic partnerships with an eye toward building an ecosystem for delivering new therapies.
As the T1D Fund’s lead public ambassador, Mily will work to elevate awareness of and investment in leading research, innovation, and the need for cures for type 1 diabetes, the fund said in a press release announcing her appointment.
“The T1D Fund’s unique position as an impact investor enables it to go beyond capital deployment to proactively work with biopharma to bring forward innovative therapies with the potential to translate to transformative cures,” said Mily.
“As someone who knows first-hand the serious impacts the disease has on individuals and their loved ones, I am eager to build upon the team’s meaningful work and partnerships to propel treatments that can improve the lives of those with type 1 diabetes.”
Mily joins the T1D Fund after most recently serving as executive vice president, strategy & business development, at Bristol Myers Squibb BMY , where she oversaw the company strategy and approach to sourcing external innovation, including all business development activities, strategic partnerships, alliance management, mergers and acquisitions, and the company’s broad equity investing portfolio.
Previously, she held senior roles at Barclays, Thermo Fisher Scientific, and Goldman, Sachs & Co.
The T1D Fund launched in December 2016, it is the first scaled, mission-driven venture impact fund established to catalyze the development of T1D cure-oriented therapies through equity investments in partnership with additional sources of capital, including venture capital, corporations, and foundations.
The fund is a part of Breakthrough T1D, formerly the Juvenile Diabetes Research Foundation, and one of the components of the group’s $100 million “Campaign to Accelerate.”
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