Biopharma big commits $100m yearly to Regeneron Ventures because it seeks to ‘gasoline promising biotech innovation.’
Yesterday, as we revealed 2023 was another tough year for longevity investment, biotech heavyweight Regeneron quietly introduced the formation of Regeneron Ventures, a brand new $500 million enterprise capital fund. Because the fund’s unique restricted associate, Regeneron has pledged $100 million yearly over the following 5 years to spend money on promising life sciences corporations.
Whereas the brand new fund’s funding mandate is broadly well being centered, Regeneron Ventures says its curiosity is “skewed in direction of biotechnology, units, instruments, and enabling applied sciences.” The fund says that funding choices can be guided by the standard of the science, individuals, and knowledge, prioritizing “breakthrough innovation” regardless of the inherent dangers and uncertainties. All of which ought to resonate effectively with founders within the longevity sector, providing a possible new supply of funding for biotech startups focusing on ageing and age-related illnesses.
Headquartered in Greenwich, Connecticut, Regeneron Ventures is led by former Regeneron executives Dr Jay S. Markowitz and Dr Michael Aberman. Markowitz joins from ARCH Enterprise Companions, the place he was concerned in funding early-stage biotechnology corporations, together with genomic medication firm Tome Biosciences.
“Understanding that essentially the most groundbreaking, transformative approaches to stopping and treating illness could but to be found, the fund will make investments for the long-term, agnostic to therapeutic space, know-how and stage of growth,” mentioned Markowitz.
Previous to becoming a member of Regeneron Ventures, Aberman served as CEO and co-founder of XenImmune Therapeutics, a seed-stage immuno-oncology biotech.
“Our purpose is to domesticate an ecosystem the place the following technology of biotech corporations can thrive, drawing on the teachings realized and successes achieved at Regeneron and all through our careers,” mentioned Aberman. “Collectively, we’ll try to establish and assist groundbreaking developments that push the boundaries of what’s doable in science and medication.”
