Wednesday, December 6, 2023

Eurofarma announced a 100M $ funding

Eurofarmaa Brazilian pharmaceutical company with a presence in Latin America and the US, announces the launch of a corporate fund of 100 million dollars to invest in startups in the field of biotechnology with projects in the initial phase of drug discovery and development.

Eurofarma Ventures, the name given to the new investment vehicle, has the objective of consolidating the Innovation area of ​​the company. The initiative seeks to expand its research activities, approaching startups with disruptive methods, at the frontier of science and drug research. The investment limit per company and stage will be $5M and, as each project progresses, the company will evaluate new contributions.

In addition to business funding, Eurofarma has a strong presence in Research and Development, Licensing, and Preclinical Development. Investments in the area in 2023 total more than 600 million Brazilian reais (about $120M) and the company’s innovation department has the facilities to Eurolabthe largest pharmaceutical innovation park in Latin America, with 600 researchers working in the pipeline with more than 400 projects of new drugs, in addition to an organic synthesis laboratory dedicated to the discovery of new molecules.

Eurofarma Ventures is already operational and, so far, has invested in three startups. Estimated time of five years to invest in about 25 biotech, places special emphasis on precision medicine, genetic editing, new targets, and artificial intelligence used to discover molecules. Within the investment portfolio, there are, for example, Abrurois a United States-based company that develops pioneering immunotherapies for the treatment of autoimmune diseases and cancer.

With the funding, Eurofarma joined a group of global investors specializing in biotechnology, which contributes to the development of research and the discovery of new drugs and therapies “This launch shows our new DNA, which has helped build our history over the past 50 years. With Eurofarma Ventures, we want to be closer to radical innovation, supporting companies dedicated to disruptive discoveries. That is our path to innovation, whose main goal is to offer health solutions to people that allow them to live longer and better,” he commented. Martha Penna, Vice President of Innovation at Eurofarma.

Pavel Herman, Director emphasizes that “Eurofarma Ventures has a clear thesis” and that they will examine projects in certain fields such as rare, neurodegenerative, autoimmune, infectious, and oncological diseases: “We are looking for companies with a good combination of a strong innovation. platform and promising products. Solutions may arise from therapeutic approaches at different stages of maturity, including small molecules, monoclonal antibodies, conjugates, gene therapies, etc.,” concluded Herman.

World Nation News Desk
World Nation News Desk
World Nation News is a digital news portal website. Which provides important and latest breaking news updates to our audience in an effective and efficient ways, like world’s top stories, entertainment, sports, technology and much more news.
Latest news
Related news