Introducing the HJF-MDC Venture Fund: Fostering Medical Innovations for Military and Civilian Applications

BETHESDA, Md., May 28, 2025 /PRNewswire/ -- The Henry M. Jackson Foundation for the Advancement of Military Medicine, Inc. (HJF) and MDC Studio, Inc (MDC) are proud to announce their groundbreaking collaboration through the HJF-MDC Venture Fund LLC.

This collaboration aims to revolutionize medical technology development and commercialization, benefiting military and civilian health care sectors.

The HJF-MDC Collaboration

This new initiative seeks to grow existing collaborations to accelerate the development and commercialization of dual-use medical technologies for military and civilian applications. As part of this initiative, MDC Studio has established a satellite office within HJF's innovation facility in Bethesda, Maryland.

Introducing the HJF-MDC Venture Fund

HJF and MDC formed the HJF-MDC Venture Fund, as an independent entity that aims to invest in a diversified portfolio of early-stage companies commercializing military medical technologies with civilian applications. HJF is participating as a non-voting member of the Fund with a minority interest. The Fund's focus areas include medical devices, wearables for health, and rehabilitation / assistive robotics. The Fund will be overseen by a Board of Managers, who will make investment decisions based on objective selection criteria, including alignment with military medical needs, benefits to civilian health, risks, and expected returns.

The Fund's Board of Managers includes:

• Dr. Gil Blankenship, Ph.D., is the Founder of MDC Studio. Over his career, Dr. Blankenship transitioned from a researcher in applied mathematics to an entrepreneur building technology companies, including three successful exits. He retired from the University of Maryland School of Engineering in 2022.
• Dr. Jonathan Pearl, M.D., is a Partner and Medical Advisor in the MDC Studio. Dr. Pearl is an Associate Professor of Surgery in General and Oncologic Surgery at the University of Maryland School of Medicine. Dr. Pearl is a Veteran of the United States Navy with several tours of duty and distinguished service awards.
• Dr. Lester Martinez-Lopez, M.D., M.P.H., served as the Assistant Secretary of Defense for Health Affairs. In this role, he was the principal advisor to the Secretary of Defense and the Undersecretary of Defense for Personnel and Readiness for all Department of Defense health and force health protection policies, programs, and activities. Dr. Martinez-Lopez, a family medicine physician, retired from the Army as a Major General and headed the Army Medical Research and Materiel Command, where he directed the Army's worldwide medical research, acquisition, and logistics program.
• Dr. Leonard Mills, Ph.D., C.F.A., had a lengthy career as an investment manager at large financial institutions and private equity funds. In 2016, Dr. Mills founded PI Analytics Investment Adviser, specializing in venture capital investments.

The HJF-MDC Venture Fund is raising $20 million to invest in new companies for its expanding portfolio of investments in dual-use startups with high potential.

The HJF-MDC Venture Fund represents a significant step forward in advancing medical technologies that benefit both military and civilian healthcare by supporting innovation and commercialization in dual-use medical technologies.

About HJF

The Henry M. Jackson Foundation for the Advancement of Military Medicine, Inc. (HJF) is a Congressionally authorized global nonprofit organization with the mission to advance military medicine. Since 1983, HJF has been a trusted and responsive link between the military medical community, federal and private partners, and the millions of warfighters, veterans, and civilians who benefit from military medicine. With more than 3,000 employees, HJF manages over 800 awards and 1,500 active research protocols, focusing on combat casualty care, infectious disease, cancer, neurological, and clinical and rehabilitative medicine.

About MDC

Established in 2016, MDC Studio is a Maryland-based startup studio that collaborates with medical professionals, engineers, and entrepreneurs to translate intellectual property into market-ready products. MDC licenses technologies from technology transfer offices and develops its own inventions, focusing on medical device innovations. MDC has successfully raised nearly $27 million in contracts, grants, and investments for its portfolio companies.

For more information, please contact:

Stephen Dalal, D.V.M.,
HJF Vice President, U.S. Research Development
HJF-MDC Venture Fund LLC.
Email: sdalal@hjf.org
Phone: +1 (240) 425-5699

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SOURCE Henry M. Jackson Foundation for the Advancement of Military Medicine