Updated:
Cystic Fibrosis Foundation
The Cystic Fibrosis Foundation was founded in 1955 to advance research into cystic fibrosis, a genetic disease. Michael P. Boyle serves as President and CEO.
Cystic Fibrosis Foundation
The Cystic Fibrosis Foundation was founded in 1955 to advance research into cystic fibrosis, a genetic disease. Michael P. Boyle serves as President and CEO. The organization maintains its headquarters in Bethesda, Maryland, and runs programs through Cystic Fibrosis Foundation Therapeutics, established in 2000. The foundation allocates across venture capital and private equity strategies with a focus on biotechnology. It deploys capital via CFF Mission Ventures into early-stage companies and maintains a 10- to 15-year horizon. Confirmed positions include ReCode Therapeutics, Prime Medicine, Carbon Biosciences, Owlstone Medical, and SNIPR Biome. It also holds public equity in 4D Molecular Therapeutics and Arcturus Therapeutics. Activity spans the United States, United Kingdom, Denmark, and Israel. Assets total $4.556 billion. The foundation maintains over 60 U.S. offices and works with service providers including KPMG as auditor and Cambridge Associates as investment consultant. Adela Skenderasi became Chief Investment Officer in October 2025, succeeding Jack Mahler. It participates in events such as the North American Cystic Fibrosis Conference in 2024. The foundation structures investments through a hybrid model that combines grant-making with equity ownership via CFF Mission Ventures. This approach allows direct participation in company formation alongside co-investors such as Flagship Pioneering while separating philanthropic and investment activities under distinct entities.
General information
Firm type
Endowment / Foundation
Year founded
1955
Location
Region
North America
Country
United States
City
Bethesda
Corporate office
4550 Montgomery Avenue Suite 1100 N Bethesda, MD 20814, US
Principals
Michael P. Boyle, MD
President and CEO
Adela Skenderasi, CFA
Chief Investment Officer
Irena Barisic
Executive Vice President and Chief Operating and Financial Officer
Sector focus
Frequently asked questions
Who runs investment decisions at Cystic Fibrosis Foundation?
Michael P. Boyle serves as President and CEO. Adela Skenderasi acts as Chief Investment Officer effective October 2025. Irena Barisic holds the role of Executive Vice President and Chief Operating and Financial Officer.
How does Cystic Fibrosis Foundation source proprietary deal flow?
The foundation uses its CFF Mission Ventures vehicle to identify early-stage biotechnology opportunities. It maintains relationships with co-investors including Flagship Pioneering. Direct equity agreements support companies developing CF treatments.
Is Cystic Fibrosis Foundation structured as a single family office or does it operate more like a venture firm?
It functions as a 501(c)(3) foundation with an investment program. Capital deploys through CFF Mission Ventures into startups and public equities. The structure separates mission-aligned investments from traditional grant activities.
Does Cystic Fibrosis Foundation participate in fund commitments or only direct deals?
Activity centers on direct equity positions and venture philanthropy agreements. Holdings appear in companies such as 4D Molecular Therapeutics and ReCode Therapeutics. No fund commitments are disclosed in available records.
What investment stages does Cystic Fibrosis Foundation typically target?
The foundation focuses on early-stage seed and startup companies in biotechnology. It also maintains positions in expansion and growth opportunities. The documented horizon runs 10 to 15 years.
Where does the underlying capital come from?
The foundation raises funds through donations and events such as Great Strides. Royalty monetizations from Vertex Pharmaceuticals treatments provided significant proceeds in 2014 and 2020. Capital supports ongoing research and investment programs.
What is Cystic Fibrosis Foundation's known posture on co-investments alongside external GPs?
It enters strategic partnerships such as the $110 million collaboration with Flagship Pioneering. Equity positions often occur through CFF Mission Ventures alongside other investors. The approach emphasizes mission alignment in CF drug development.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
Need institutional-grade insight on endowments & foundations?
Altss delivers:
Prefer a guided tour?
We’ll walk you through: