In the pool of investors also Angelini Pharma, which enters with a share of 30%, 15 million invested
by red Salute
In the pool of investors also Angelini Pharma, which enters with a share of 30%, 15 million invested
2 ‘of reading
Argobio was born, a French startup incubator dedicated to life sciences, supported by 50 million euros of committed capital. In the pool of investors that supports the founders – Kurma Partners, one of the largest venture capital companies in the healthcare sector, and Bpifrance, the French national investment bank, there are also Angelini Pharma, a private international pharmaceutical company, Evotec, an alliance for the drug discovery and development partnership companies; and the Pasteur Institute, an internationally renowned biomedical research center.
Argobio will create and launch at least five ambitious biotechnology companies over the next five years, sourcing innovative early-stage projects from leading European academic research institutes, focusing on selected therapeutic areas: rare diseases, neurological disorders, oncology and immunology. It will also seek to develop promising technological platforms for making therapeutic products. Argobio will identify, select and incubate these projects until the creation of the actual company, providing the vast expertise in the discovery and development of innovative therapeutic products of its team of experienced biotech entrepreneurs.
Angelini enters with a 30% stake and with a loan of 15 million euros. “We are thrilled to be able to invest and be actively involved in Argobio’s activities – said Pierluigi Antonelli, CEO of Angelini Pharma – Thanks to this initiative, we will be able to evaluate the most promising programs of the best European academic institutions and continue to invest in pioneering companies, which are developing innovative therapies. After the acquisition of Arvelle Therapeutics, this is a further and important step towards our ambition to become European leaders in innovation in the therapeutic areas of mental health, central nervous system and rare diseases ».
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All investors will have the opportunity to take stakes in the biotech companies created by Argobio.
“Most of the recent approvals of new drugs have originated from small biopharmaceutical companies – declares Francesco Paolo di Giorgio, Global Head of R&D External Innovation and Corporate Venturing at Angelini Pharma – The startups are driving innovation in the pharmaceutical sector thanks to their efficiency, agility and ability to capitalize on the implementation of new technologies. This investment is part of a broader “open innovation” strategy that aims to create collaboration agreements between Angelini Pharma and innovative startups ».