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.
”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
Christian SchubertVice President and Head of AbbVie Ventures, Cambridge, MA
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.
Read full press release here.
