CHICAGO, Aug. 9, 2021 /PRNewswire/ -- Celebrating 50 years in business, Grosvenor Capital Management (GCM) contributes $1M to the Usher III Initiative to support development of a treatment for Usher syndrome type III (USH3), a debilitating genetic disease that causes progressive hearing and vision loss. Most individuals with USH3 are profoundly deaf and legally blind by age 20. There are no existing cures or treatments.
"This incredibly generous contribution follows the recent $1M grant from the Foundation Fighting Blindness" commented Cindy Elden, President of the Initiative and an USH3 patient, "GCM has been one of the Initiative's lead supporters for many years, and I am both humbled by and grateful for this tremendous gift."
"Finding treatments and cures for Usher syndrome type III was important to our Founder Dick Elden and it is our privilege to honor him, his daughter Cindy and the important and promising work of the Usher III Initiative," said Michael Sacks, GCM Grosvenor Chairman and CEO.
GCM's donation will enable the Initiative to satisfy key pre-clinical requirements to accelerate progress towards clinical trials as well as compliment the recent award from the Foundation Fighting Blindness.
David Saperstein, MD, an ophthalmology specialist, retinal surgeon, and Initiative Board member commented, "This funding is essential for the development of this potential life-changing therapy"
About the Usher III Initiative
The Usher III Initiative is a 501(c)(3) nonprofit medical research organization Co-founded by Cindy and the late Richard Elden, to address the unmet medical needs of individuals with USH3. Over the last 18 years, the Initiative's efforts led to the discovery of BF844, a novel compound that targets the underlying disease pathology of USH3 and prevents hearing loss in a mouse model of USH3. This oral, first-in-class therapeutic candidate may improve clinical outcomes for patients with no other options.
To learn more about the Initiative and the fight against USH3, please visit www.usheriii.org
About Grosvenor Capital Management
GCM Grosvenor, a $67 billion AUM alternative asset manager, was founded by Richard Elden in 1971. At the time, the alternative investment industry was in its infancy. Throughout its 50-year history GCM Grosvenor has been an industry leader in the fast-growing alternative asset management arena investing across private equity, real estate, infrastructure, and absolute return strategies.
For more information on GCM please visit: https://www.gcmgrosvenor.com/
Media contact: Georgia Horn, georgia@usheriii.org
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SOURCE The Usher III Initiative
