# Ludwig Institute for Cancer Research

Ludwig Institute for Cancer Research is an Endowment / Foundation based in New York, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** New York, United States
- **Region:** North America
- **Address:** 600 Third Avenue 32nd Floor, New York, NY 10016, United States
- **Founded:** 1971
- **Assets under management:** 1800 (Altss estimate)
- **Website:** ludwigcancerresearch.org
- **LinkedIn:** https://www.linkedin.com/company/ludwig-institute-for-cancer-research

## Regulatory record

- **Reports private funds:** No

## About

Daniel K. Ludwig established the Ludwig Institute for Cancer Research in 1971. The shipping and resources fortune he accumulated funded an organization that now runs laboratories in North America, Europe, Asia, and other regions. The institute maintains its own administrative headquarters in New York and an international office in Zurich. The institute deploys capital through direct co-investments, SPVs, and a limited number of fund commitments. Asset classes include biotechnology startups, public equity positions in healthcare companies, and real estate holdings. Confirmed holdings include iTeos Therapeutics, Recepta Biopharma and UroGen Pharma. Geographic reach covers North America and Europe with additional activity in Asia, Africa, and South America. The LICR Fund, Inc. manages the endowment and supplies roughly 60 percent of the institute's annual research budget. The organization employs 501 people. It maintains the LICR Fund as its primary investment vehicle and has operated additional philanthropic structures such as the Virginia and D.K. Ludwig Fund for Cancer Research, which completed final distributions in 2014. April 2024: Sponsored and presented at the AACR Annual Meeting in San Diego on topics including cancer metabolism and immunotherapy. The institute's architecture differs from typical foundations because it combines an internal research network with an active investment subsidiary that retains ownership in portfolio companies and joint ventures. This model allows direct control over intellectual property and clinical translation rather than passive grant-making.

## Sectors

- Healthcare
- Biotechnology
- Digital Health

## Offices

- Zurich, Switzerland

## People

- Chi Van Dang — CEO and Scientific Director

## Questions

### Who runs investment decisions at Ludwig Institute for Cancer Research?

Xing Chen serves as President and Chief Investment Officer of LICR Fund Inc. Edward A. McDermott Jr. chairs the board. Chi Van Dang oversees scientific direction as CEO.

### How does Ludwig Institute for Cancer Research source proprietary deal flow?

The institute generates flow through its network of Ludwig Centers at universities including Johns Hopkins and Memorial Sloan Kettering. It also forms joint ventures such as Cancer Vaccine Acceleration Company.

### Does Ludwig Institute for Cancer Research participate in fund commitments or only direct deals?

It uses both approaches. The LICR Fund holds limited partner interests in Seven Seven Six funds and Apiary Capital while maintaining direct ownership in companies including iTeos Therapeutics and Vaccitech Oncology Limited.

### What investment stages does Ludwig Institute for Cancer Research typically target?

Early stage investments predominate. Holdings include seed and startup biotechnology companies alongside later-stage public equity positions.

### What is Ludwig Institute for Cancer Research's known posture on co-investments alongside external GPs?

The institute takes direct co-investment and joint venture positions. Examples include a 50 percent stake in Cancer Vaccine Acceleration Company and a 24 percent stake in Vaccitech Oncology Limited.

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Last updated: 2026-06-03T20:00:00.000Z

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