May 01, 2018
Dr. Jessica Grossman, Medicines360
Dr. Jessica Grossman
CEO of Medicines360
The story of the founding of nonprofit women's health mainstay Medicines360 is almost industry legend. Fueled by a $74 million donation by a then anonymous donor (later revealed to be the Susan Thompson Buffett Foundation), the company's initial goal was to bring to market a low-cost IUD – which would then be made available to women who were receiving birth control via Planned Parenthood, rural and inner-city clinics, and similar organizations.
A Medicines360 board member since 2011, Grossman became CEO in July 2015, just a few months after the FDA formally approved the IUD, Liletta. Since then, she has grown the company during an era when organizations of its ilk have struggled. Medicines360 remains proudly nonprofit.
Look for the company to stay true to its mission of creating products that address an unmet need in women's health. “Typically you don't see many nonprofit pharmaceutical companies,” Grossman told MM&M in 2016. “We're doing everything we can to get people to understand the importance of what we're doing.”