ANN ARBOR The University of Michigan and health care investment firm Deerfield Management Co. announced Wednesday a new partnership with the aim of developing life-saving drugs and disease treatments. Deerfield has committed up to $130 million over the next decade in biomedical research at U-M. The University of Michigan has a strong legacy of drug discovery and translation, Rebecca Cunningham, U-M vice president for research said in a news release. Great Lakes Discoveries will support all preclinical stages of drug development and discovery. "With its vast research platform, the University of Michigan is the ideal partner and we look forward to the innovations that we expect this alliance will bring.