Landmark investment establishes dedicated accelerator to fast-track life-saving innovations to accelerate clinical development for pediatric medical devices and therapies for childhood cancer and rare diseases
NEW YORK CITY, NEW YORK – July 30, 2025 – Advancium Health Network (“Advancium”) today announced a transformative $10 million grant from The Maxine and Stuart Frankel Foundation. This significant investment will establish and launch the Maxine and Stuart Frankel Accelerator and deepen the existing collaboration between Advancium and The Frankel Foundation, underscoring a shared, unwavering commitment to revolutionizing pediatric healthcare through targeted, high-impact innovation. The new funding builds on a previous Frankel gift, further empowering CobiCure, Advancium’s non-profit company, in its critical mission to bring breakthrough medical solutions to children facing serious and often overlooked conditions.
"My commitment to Advancium is rooted in the belief that science, when pursued through true collaboration, has the power to drive meaningful change, particularly in pediatric healthcare," said Stuart Frankel. "Supporting the creation of a dedicated research accelerator is a direct extension of that belief. I'm drawn to efforts that push the boundaries of scientific discovery, and this initiative, along with Advancium’s broader mission, embodies that shared ambition to redefine what is truly possible in children’s health."
Children represent one of the most critically underserved populations in healthcare and medical innovation. Alarmingly, 30% of those diagnosed with a rare disease will not live to see their fifth birthday (www.rarediseases.org). A significant gap persists where many medical devices and therapeutics are not designed with the unique physiological and developmental needs of pediatric patients in mind, leading to suboptimal care and delayed access to essential treatments.
"We are incredibly honored to expand our partnership with Maxine and Stuart Frankel, whose commitment to healthcare innovation aligns perfectly with our mission to ensure every child has access to the treatment they deserve," stated Mark Veich, CEO of Advancium. "Their support empowers us to deepen our strategic collaborations, enabling us to fast-track the most promising technologies from proof-of-concept to clinic. This will fundamentally change the standard of care for our youngest and most vulnerable patients."
The Maxine and Stuart Frankel Accelerator is uniquely positioned to close these critical gaps by deploying philanthropic capital to advance innovations through a collaborative
model. This model strategically brings together likeminded philanthropists, leading technology experts, academic researchers, industry, clinicians, and children’s hospitals from across the country.
The $10 million grant will specifically bolster:
• Accelerated Research & Early Clinical Development: Driving novel pediatric medical devices and therapeutics through crucial early-stage development.
• Robust Clinical Collaborations: Fostering early validation and clinical trials with a network of premier children’s hospitals nationwide.
• Streamlined Development-to-Market Pathway: Expediting the entire drug and device development lifecycle, ensuring commercial readiness and patient access.
This investment is a powerful call to action for the industry and other philanthropic leaders to join Advancium in transforming pediatric healthcare.
About Advancium Health Network
Advancium Health Network is a mission-driven public charity pioneering ways to overcome barriers in healthcare through a unique model that combines for-profit infrastructure with non-profit ideals. Advancium forges bonds between a diverse body of industry partners, experts, and philanthropic support to leverage its collective expertise and resources. From early-stage innovation to pediatric MedTech and rare diseases, we are confronting healthcare’s most daunting hurdles for underserved patients and catalyzing a positive impact on human health.
For more information on how the Advancium Health Network is enabling transformative impact visit www.advanciumhealth.org.
Advancium Media Contact
Jyoti Patel
Director of Marketing and Operations
jpatel@advanciumhealth.org | 646.771.0699
