Finding a cure so that others may benefit

24 Apr 2014

Finding a cure so that others may benefit

Re: Joe O'Donnell (MBA 1971)

Topics: Health-Health Care and Treatment Philanthropy-Giving Impact Entrepreneurship-Social Entrepreneurship

In 1986, Joe O’Donnell (AB 1967, MBA 1971) and his wife, Kathy, founded the Joey Fund in memory of their son, who died as a result of cystic fibrosis. O’Donnell has raised millions to battle the disease, and when asked to help the Cystic Fibrosis Foundation raise millions more, he answered the call.

The foundation wanted to invest in for-profit bioscience companies to spur scientists to find a cure for the disease. O’Donnell is credited with almost singlehandedly raising $250 million in support of this venture philanthropy, which led to the development of Kalydeco. It is the first drug that treats the cause, not just the symptoms, of cystic fibrosis (CF) in about 4 percent of the 70,000 people worldwide afflicted with the often deadly disease.

When asked how he was able to marshal such support, O’Donnell, founder of Boston Culinary Group and Belmont Capital, replied, “We went out and said, ‘we have hope.’”

“Joe could have turned away, but he didn’t,” said C. Richard Mattingly, COO of the Cystic Fibrosis Foundation. “He led us. He wasn’t working to save Joey’s life. He was working for others who still had a chance.”

(Published April 2014)

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Joe O'Donnell

MBA 1971

Featured Alumni

Joe O'Donnell

MBA 1971

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