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April 28, 2008

Venture Capitalist's Charity Focuses on Eye Research

The Foundation Fighting Blindness, started by the venture capitalist Gordon Gund, has raised more than $300-million for research and education on retinal disease, The Philadelphia Inquirer notes in a profile of the organization.

Mr. Gund founded the charity in 1971, shortly after he lost his sight at the age of 31. Mr. Gund is a former owner of the NBA’s Cleveland Cavaliers and the NHL’s San Jose Sharks.

Foundation Fighting Blindness provides financial support for research that is in the early stages — and unlikely to attract support from other organizations — and career-development awards for scientists working on eye research.

Mr. Gund says, “You get the more conventional funding later if the small enterprise is successful. There’s such a long distance between the lab and the trials and FDA approval. We need to de-risk those things.”

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