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August 9, 2019

Hartford HealthCare invests in oncology drug developer

Photo | Contributed The front entrance to Hartford Hospital, Hartford HealthCare's flagship campus.
By Matt Pilon

Hartford HealthCare’s endowment fund has taken a stake in a San Francisco company developing therapies for treatment-resistant cancers.

ORIC Pharmaceuticals announced Thursday that it had closed on a $55 million Series D round that included Hartford HealthCare Endowment LLC and several other new investors.
The size of the endowment fund’s investment in the private company was not disclosed.

The round included an add-on investment from Hartford HealthCare’s cancer-care partner, New York’s Memorial Sloan Kettering Cancer Center (MSK), which has held a financial interest in ORIC since at least Feb. 2018.

Two of ORIC’s three founders, Dr. Charles Sawyers and Scott Lowe, are MSK professors.

Hartford HealthCare and MSK announced their partnership in 2013, which has since made hundreds of clinical trials available to area patients.

Hartford HealthCare’s endowment and pension fund booked a 12 percent return in fiscal year 2018, according to Pensions & Investments. 

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