The big type 1 diabetes foundation JDRF this week launched a new financial vehicle to more nimbly invest in companies developing medicines or devices for type 1 diabetes.

The JDRF T1D Fund, as the vehicle is being called, launches with $42 million and aims to raise $80 million in its first two years. The new fund will focus on opportunities toward the later stages of product development. It will often take equity stakes in companies, or negotiate a share of future product royalties.

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