Jane Edwards
The Henry M. Jackson Foundation for the Advancement of Military Medicine, or HJF, and MDC Studio have formed a venture fund to accelerate the development and commercialization of dual-use technologies for military and civilian healthcare applications.
HJF-MDC Venture Fund’s Focus Areas
HJF said Wednesday the HJF-MDC Venture Fund is raising $20 million to invest in startups developing military medical technologies with civilian applications.
The newly established fund’s focus areas include medical devices, rehabilitation or assistive robotics and wearables for health.
In support of the initiative, MDC Studio has set up a satellite office within HJF’s innovation facility in Bethesda, Maryland.
A board of managers will oversee the new venture fund. The board will make investment decisions based on benefits to civilian health, alignment with military medical needs and expected returns, among other factors.
Venture Fund’s Board of Managers
The HJF-MDC Venture Fund’s board of managers includes:
- Gil Blankenship, founder of MDC Studio
- Jonathan Pearl, partner and medical adviser at MDC Studio and a U.S. Navy veteran
- Leonard Mills, an investment manager and founder of PI Analytics Investment Adviser
- Lester Martinez-Lopez, former assistant secretary for health affairs at the Department of Defense
What Do HJF & MDC Do?
HJF is a congressionally authorized nonprofit organization that has been advancing military medicine since 1983. The organization has more than 3,000 employees and manages over 800 awards and 1,500 active research protocols focused on combat casualty care, cancer, infectious disease, neurological, and clinical and rehabilitative medicine.
MDC is a Maryland-based startup studio that has been collaborating with medical professionals, entrepreneurs and engineers to transition intellectual property into market-ready products. Founded in 2016, MDC drives medical device innovation and licenses technologies from tech transfer offices.
