Boehringer Ingelheim Demonstrates Continuous Commitment to Its Venture Fund and Fostering Innovation by More than Doubling Funding to 250 M€
Boehringer Ingelheim today announced an increase in funding for its corporate venture fund, known as the Boehringer Ingelheim Venture Fund (BIVF), from EUR 100 to 250 million. The additional funds will be used to invest in promising early stage start-up companies, focusing on regenerative medicine, infectious diseases and immune oncology among others, as well as growing the portfolio in the U.S. and opening doors for the BIVF in digital health. The significant additional funding goes along with a doubling of the number of investment managers.
“We at the BIVF are inspired by the opportunity to increase investments and work across some of the most promising areas of biomedical research to date,” says Frank Kalkbrenner, M.D., Corporate Vice President and Head of the BIVF. “We are thrilled to be opening a second U.S.-based office in 2018, which will allow us to collaborate more closely with biotech and start-up companies on the West Coast. This also brings us one step closer in our quest to be at the centre of the global digital health transformation.”
The expansion builds on the BIVF’s existing portfolio of 21 biotech and early stage start-up companies focused on various therapeutic areas of interest, including immune-oncology. Recent successes of the portfolio include:
- Rigontec is a forerunner in accessing the retinoic acid-inducible gene I pathway, part of the innate immune system, as a novel and distinct approach in cancer immunotherapy to induce both immediate and long-term anti-tumor immunity. Rigontec was acquired by Merck (known as MSD outside of the U.S. and Canada) in September 2017, with an upfront payment of EUR 115 million and additional contingent payments of up to EUR 349 million.
- ViraTherapeutics specializes in the development of oncolytic virus therapies. In 2016, BIVF entered into an option agreement with a transaction value of up to EUR 210 million, including co-funding of development activities of ViraTherapeutics’s VSV-GP.
- Okairos is pioneering the development of T-cell based vaccines for major infectious diseases, as well as cancer. In 2011, one year after the BIVF was founded, the first investment was made in Okairos. The company was acquired by GlaxoSmithKline in 2013, creating the first successful exit for BIVF.
“The key differentiator for Boehringer Ingelheim’s Venture Fund lies in the close and trusted relationships with the portfolios and entrepreneurs with whom we are privileged to work with,” added Kalkbrenner. “Through these connections, we’ve successfully developed a number of biotech start-ups – from creation to exit – and we look forward to the ground-breaking work that lies ahead. We are a team that welcomes new adventure and risk-taking, if it means delivering novel solutions that will one day help patients everywhere lead healthier lives.”
Boehringer Ingelheim’s innovation strategy furthers its commitment to push the boundaries of biomedical research and development by accelerating the delivery of first in class breakthrough therapies for patients in need. The BIVF invests in the development of pioneering science, which offers the potential to provide significant benefits for patients, creating options for Boehringer Ingelheim to expand into new areas. It actively works to spin-out and create companies from academia, developing projects over a five to seven year time period with initial investments in seed or series A funding. Staged investments start with EUR 0.5-3 million and can amount to up to EUR 10-15 million in funding.
LINK Press Release:
Boehringer Ingelheim Corporate Center GmbH
Dr. Reinhard Malin
Head of Communications Innovation Unit
Media + PR
P: +49 6132 77-90815 :: M: + 49 151 150 20 690
Boehringer Ingelheim Pharmaceuticals, Inc.
Associate Director, Media and Corporate Reputation
P: +1 203 791-6672 :: M: +1 203-957-5114
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Tilaa tiedotteet sähköpostiisi
Haluatko tietää asioista jo ennen kuin ne uutisoidaan? Kun tilaat tiedotteemme, saat ne sähköpostiisi yhtä aikaa suomalaisen median kanssa. Tilauksen voit halutessasi perua milloin tahansa.
Lue lisää julkaisijalta Business Wire
ABB Showcases World-Leading e-Vehicle Fast Chargers and Launches AI Readiness Index at Hannover22.4.2018 13:00 | Tiedote
ABB spotlighted its world-leading Terra HP family of fast chargers for electric vehicles at Hannover Messe, the biggest global industrial trade fair. By operating at powers of up to 350 kilowatts and adding as much as 300 kilometers of range to an electric vehicle in just 12 minutes, the Terra HP family of chargers have made electric cars more appealing for consumers by enabling them to refresh the batteries in about the same time required for filling up a petrol-powered car. Terra HP chargers are being installed around the world, and they have been selected for use by Electrify America, the biggest electric vehicle infrastructure project to date in the United States. ABB, whose broad array of digitally driven technologies for electric-power management are used by utilities and businesses worldwide, is also a global leader in industrial automation and robots enabled by artificial intelligence (AI). Demonstrating its commitment to helping the international community address the opportun
PSE: APM Forum 2018 Focus on Digitalisation for the Process Industries20.4.2018 18:13 | Tiedote
At the 2018 Advanced Process Modelling (APM) Forum this week, process industry organisations presented on digital design and operations applications ranging from accelerating development of the next generation of pharmaceuticals to realising millions of dollars per year in increased profit for large process plants. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180420005517/en/ Ben Weinstein, head of R&D Product and Process Systems Modeling at Procter & Gamble, delivers the keynote speech on how digital design techniques are used systematically to accelerate innovation in P&G. (Photo: Business Wire) Introducing the conference, Prof. Costas Pantelides, MD of conference host Process Systems Enterprise (PSE), described the current wave of digitalisation as the culmination of many years of advanced modelling and IT development. “This is a time of extraordinary opportunities for the process industries” he said. Keynote speaker Ma
Aperta Provides Electronic Funds Transfer (EFT) in Cayman Islands20.4.2018 17:01 | Tiedote
Once again, the Aperta Active Clearing System (ACS) has delivered the mechanism for a country to implement a world-class electronic payment processing environment to maximize a national payments system’s efficiency, effectiveness, security and control. Aperta partnered with the Cayman Islands ACH Operator (Prism Services (Cayman) Ltd.) and local commercial banks to deliver a new Electronic Funds Transfer system. The old process of banks swapping files in a wide-variety of standards and settling bilaterally has been replaced with a common system and standards, employing international-standard secure file transfer protocol, allowing participants to monitor real time net settlement and collateral positions via a secure portal. The Cayman Islands Automated Clearinghouse (CIACH) links all six of the country’s banks and provides the central clearing and settlement mechanism for banks to exchange direct debit and direct credit transactions seamlessly across the country. It is functionally NAC
FII Tech Growth Invests in SECO20.4.2018 16:39 | Tiedote
FII Tech Growth, a fund managed by Fondo Italiano d’Investimento SGR, announces today its second investment in SECO SpA, one of the European leaders in the embedded electronics market. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180420005413/en/ (Photo: SECO) SECO, headquartered in Arezzo, Tuscany, with subsidiaries in the U.S.A., Germany and Taiwan, was founded in 1979 by entrepreneurs Daniele Conti and Luciano Secciani. The company designs and manufactures micro-computers and integrated systems for industrial applications. With more than 250 employees, SECO supports customers with a worldwide presence such as Cimbali, Esaote, Technogym and Vimar, and generated revenue in excess of Euro 50 million in 2017. The ability to offer innovative solutions by using cutting-edge technologies has allowed SECO to grow steadily over time. The company developed a network of collaborations with universities and research centres La Sapi
Schlumberger Announces First-Quarter 2018 Results20.4.2018 14:05 | Tiedote
Schlumberger Limited (NYSE:SLB) today reported results for the first quarter of 2018. (Stated in millions, except per share amounts) Three Months Ended Change Mar. 31, 2018 Dec. 31, 2017 Mar. 31, 2017 Sequential Year-on-year Revenue $7,829 $8,179 $6,894 -4% 14% Pretax operating income $974 $1,155 $757 -16% 29% Pretax operating margin 12.4% 14.1% 11.0% -169 bps 145 bps Net income (loss) - GAAP basis $525 $(2,255) $279 n/m 88% Net income, excluding charges & credits* $525 $668 $347 -21% 51% Diluted EPS (loss per share) - GAAP basis $0.38 $(1.63) $0.20 n/m 90% Diluted EPS, excluding charges & credits* $0.38 $0.48 $0.25 -21% 52% *These are non-GAAP financial measures. See section below entitled "Charges & Credits" for details. n/m = not meaningful Schlumberger Chairman and CEO Paal Kibsgaard commented, “As forecast, our results in the first quarter of 2018 largely reflected transitory factors, with seasonal reductions in activity in the Northern Hemisphere and planned project startup costs
Biogen and Ionis Expand Strategic Collaboration to Develop Drug Candidates for a Broad Range of Neurological Diseases20.4.2018 13:30 | Tiedote
Biogen (Nasdaq: BIIB) and Ionis Pharmaceuticals (Nasdaq: IONS) announced today they have expanded their strategic collaboration through a new ten-year collaboration agreement to develop novel antisense drug candidates for a broad range of neurological diseases. This collaboration capitalizes on Biogen’s expertise in neuroscience research and drug development and Ionis’ leadership in RNA targeted therapies with the goal of developing a broad pipeline of investigational therapies. It builds upon a productive collaboration that produced SPINRAZA, the first and only approved treatment for patients with spinal muscular atrophy. Today, April 20, 2018, Biogen and Ionis will host company conference calls and webcasts to discuss the new collaboration. Full webcast details can be found below. Under the terms of the collaboration, Biogen will pay Ionis $1 billion in cash, which will include $625 million to purchase 11,501,153 shares of Ionis common stock at a price of $54.34 per share, at an appr
Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.Tutustu uutishuoneeseemme