PricewaterhouseCoopers instrumental in supporting the next generation of life science innovators and companies

by | Jul 4, 2016 | Alliances, Education, Fogarty Innovation

The medtech world experienced a huge void when Tracy Lefteroff passed three years ago. He displayed an unequaled passion and dedication to advancing the field of life science, regardless of economic forces.

Fortunately, thanks to a collaborative effort involving the PricewaterhouseCoopers (PwC) Charitable Foundation, the California Healthcare Institute (CHI, now the California Life Sciences Association) and the Fogarty Institute for Innovation, his legacy has continued. Lefteroff was a Fogarty Institute and CHI board member.

The three organizations created a fund in his name, which mirrors Lefteroff’s goals and ambitions to invest in individuals or early-stage ideas that will create the next generation of life science companies. The fund, which is housed at the Fogarty Institute, supports educational scholarships, programs and medical innovation projects that advance entrepreneurship in healthcare.

PwC and several of its members, including PwC partners Adrian Beamish and Peter Claude, have been instrumental in the fund’s development – ensuring its longevity through their efforts to launch it and determine its mission and scope.

“Tracy was a poster child for giving yourself completely to something you believe in and value, in this case the medical technology industry,” said Claude. “Establishing a program that supports the people who create the next generation of life science companies is something he stood for, which also aligns with the scope of the firm and our PwC Charitable Foundation, which provided the initial seed grant to honor his legacy.”

PwC and the Institute are currently working towards enhancing and potentially expanding one of the cornerstone programs of the Lefteroff Fund, the Institute’s successful summer internship program.

“Talent presents itself at a young age and is an ideal time to pique the interest of potential healthcare entrepreneurs,” said Beamish. “Advancing the life sciences industry and ensuring its longevity is critical for us, which is why we support the work of the Institute. We all benefit when we ensure that innovative products, which will improve patients’ lives, reach the market.”

Claude and Beamish are both veterans of the healthcare and medical device industry and currently consult with leading-edge companies through their work at PwC. The mission of its healthcare practice is to help clients solve an array of emerging complex problems facing pharmaceutical and life science clients, service providers and new market entrants in the New Health Economy – a commitment that dovetails well with the Institute’s life-saving work.

Others participants involved in the creation of the Lefteroff Fund include Hank Plain, general partner, Lightstone Ventures; Mike Mussallem, CEO of Edwards Lifesciences; Allan Will, founder of the Foundry; Casey McGlynn, partner at Wilson Sonsini Goodrich & Rosati; and Dr. Fogarty.

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