Muscular Dystrophy Association creates new philanthropic subsidiary

TUCSON, Ariz. The Muscular Dystrophy Association announced Wednesday that it would take a new approach to the philanthropy models for funding research.

The organization has created a new subsidiary, the MDA Venture Philanthropy, or MVP. The new organization will apply the tools and methods of venture capital to fast track the development of new therapies and cures for muscular dystrophy and related diseases.

“We’re excited about MVP because it will help us overcome the critical funding gap that can occur in research on promising new drugs and therapies,” MDA president and CEO Gerald Weinberg stated.

MDA will provide initial seed money of $10 million for the new organization’s operating capital. Its investments will specifically focus on companies conducting commercially promising research in Duchenne muscular dystrophy, Lou Gehrig’s disease, spinal muscular dystrophy and an area that includes Friedreich’s ataxia, myotonic dystrophy and limb-girdle muscular dystrophy.