The University of North Carolina at Chapel Hill and Deerfield Management have entered into a partnership to create Pinnacle Hill, a company seeking to discover new medicines to address the significant unmet medical needs of our times.

Deerfield will invest up to $65 million of targeted funding through Pinnacle Hill, as well as providing significant drug development expertise to advance promising therapeutic research at UNC-Chapel Hill.

Pinnacle Hill will focus on drug research projects that are approved and directed by a joint steering committee comprised of members from UNC-Chapel Hill and Deerfield leadership teams. Each selected project will be sufficiently funded to support investigational new drug enabling studies.

Deerfield is an investment management firm committed to advancing healthcare through investment, information and philanthropy. For more information, please visit www.deerfield.com.

The University of North Carolina at Chapel Hill, the nation’s first public university, is a global higher education leader known for innovative teaching, research and public service. For more information, please visit www.unc.edu.