- Further strengthens BaseLaunch's global pharma industry
partnerships
- 24 early-stage biotech ventures have now been supported by
BaseLaunch
- Portfolio companies have raised over US$
600 million in equity capital.
BASEL, Switzerland,
May 22, 2024 /PRNewswire/ --
BaseLaunch, the Basel-based
biotech venture incubator, today announces that AbbVie has become
its newest partner. Through this strategic investment into
BaseLaunch, AbbVie gains access to the highest quality life science
deal flow in central Europe. By
taking a seat on BaseLaunch`s investment board, AbbVie will lend
its unique experience in biotech innovation and development of
medicines that matter to the incubator. This will greatly add to
the venture building capabilities of BaseLaunch.
AbbVie joins other pharmaceutical, venture fund and
biotechnology partners supporting BaseLaunch's company creation
endeavours. BaseLaunch's mission is to help scientists and
entrepreneurs build exceptional biotech companies. Its partners now
include AbbVie, Roche, Novo Nordisk, Johnson & Johnson, CSL,
Pureos Bioventures, CMS and Bridge Biotherapeutics. Since 2018,
BaseLaunch has supported 24 early-stage biotech ventures, providing
financing and assisting in all aspects of company creation and
growth up to Series A financing. Of the 24 ventures, 10 have now
collectively raised over US$ 600
million in equity capital, and six have assets that have
entered the clinic. Last year, T3 Pharma, a company initially
supported by BaseLaunch, was acquired for US$ 500 million. Further highly promising
ventures are being added to BaseLaunch's portfolio on a rolling
basis. The most recent, Salvina Therapeutics, is developing new
therapies to break efficacy ceilings in inflammatory and autoimmune
diseases.
Christian Schubert, Vice
President and Head of AbbVie Ventures, Cambridge, MA, commented: "Through
our strategic investment in BaseLaunch, we will further strengthen
our ties to the European biotech innovation ecosystem. With our
involvement in the review process and funding decisions through our
investment board seat, we aim to contribute to BaseLaunch's company
creation track record and leverage AbbVie's expertise in
translating innovative science into novel therapeutics. We look
forward to working closely with the BaseLaunch team to enable the
progress of innovative venture companies and medicines."
Stephan Emmerth, Director
Business Development & Operations at BaseLaunch, Basel, CH added: "Today's
announcement further validates the Basel area's unique position as a global life
sciences hub, and we are delighted to welcome AbbVie as our newest
partner. AbbVie is a leading global pharmaceutical player which
will be a source of world-class help and advice, instrumental to
the successful development of our growing portfolio of cutting-edge
biotech companies."
BaseLaunch is operated by Basel Area Business & Innovation,
the investment and innovation promotion agency of the Basel region. BaseLaunch has partnered with a
diverse group of international life sciences organizations with the
aim of harnessing the Basel area's
unique position as a global life sciences hub, as well as its
rising popularity among investors, to attract the next generation
of breakthrough companies.
About BaseLaunch
BaseLaunch is the Basel-based
incubator and accelerator that helps scientists and entrepreneurs
launch exceptional biotech companies. It serves as a growth
platform for early-stage ventures developing cutting-edge
therapeutics. BaseLaunch helps build companies from inception
through to Series A funding, providing financing and supporting all
aspects of company creation and growth. It is operationally run and
financed by Basel Area Business & Innovation, the investment
and innovation promotion agency helping companies, institutions and
startups find business success in the Basel area. BaseLaunch partners with leading
global pharma and biotech companies and a venture fund – AbbVie,
Roche, Novo Nordisk, Johnson & Johnson, CSL, Pureos
Bioventures, Bridge Biotherapeutics and CMS, which also feed into
the pool out of which BaseLaunch funds ventures.
Domain and regional partners include KPMG, Vossius &
Partner, Alloy Therapeutics, Walder
Wyss attorneys at law, WuXi AppTec, KPBMA, Lonza, Charles
River Laboratories, Schrödinger, Wuxi Biologics, VISCHER
as well as the Tech Park Basel, and the Switzerland Innovation Park
Basel Area. Since 2018, BaseLaunch supported ventures have
raised in total over US$ 600 million.
Harnessing the Basel
area's unique position as a global life sciences hub, as well
as its rising popularity among investors, BaseLaunch is
looking to attract the next generation of breakthrough companies.
Interested groups can find more information at
www.baselaunch.ch.
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