Cdp Venture Capital Sgr announces the birth of Extend, a national technology transfer center dedicated to the biopharmaceutical sector for the development of new therapeutic approaches. With 55 million euros allocated from Technology Transfer Fundof which more than 15 million directly for the Extend Hub and 40 dedicated to supporting the creation of new venture capital funds specialized in the sector, Cdp VC aims to create an infrastructure to support the entire technology transfer chain, with a view to ” from the laboratory to the market “through the creation of national technology transfer poles distributed throughout the territory. Extendwill be entirely dedicated to the biopharmaceutical sector for the development of new therapeutic approaches.
“The launch of the Extend National Technology Transfer Hub adds a fundamental step to the path we are building to bridge the Italian tech transfer gap and open university laboratories to international markets” commented Enrico Resmini, CEO and General Manager of Cdp Venture Capital, adding: “The pharmaceutical field and that of the so-called drug discovery, represent one of the most striking examples of how research and deeptech technologies can change people’s lives in a short time, we have all experienced it during the health emergency” .
The Polo Extend will finance 50 proofs of concepts and 40 startups
The Polo Extend starts with one total endowment of over 23 million eurossubscribed by CDP Venture Capital (15 million) and by partners and co-investors Evotecthe world‘s leading German company for integrated drug discovery services, e Angelini Venturesthe new company of Angelini Industries Group (born just a week ago) which operates in the VC sector with a focus on digital health and biotech. With a collection target of 30 million euros, the initiative is open to the entry of new industrial and financial partners, to support the financing of the best initiatives originating from the national research system, both in proof of concept and startup stages.
The investment plan therefore envisages financing around 50 proofs of concepts and 40 startups thanks to Extend’s activity and the contribution of the related vertical funds.
In particular, Extend focuses on therapeutic areas with the greatest unmet medical needs, such as oncology, the central nervous system, rare diseases, using biotechnologies as enabling solutions, such as for example gene and cell therapy, RNA and monoclonal antibodies. The ambition of the newborn Polo is to create an aggregator of skills and investors dedicated to the competitive development of the sector in Italy, promoting access to the market of new drugs and therapies that can help improve people’s lives.
The contribution of the linked vertical funds
Evotec it will act as a platform for the validation of academic research, supporting research groups in the scientific study path up to the establishment of startups ready to raise capital on the market to start the clinical phase. Already on the strength of the experience gained with other initiatives that involve prestigious universities at an international level, Evotec brings its presence permanently to Italy by leveraging the historic Veronese site which has over 850 researchers.
Angelini Venturesfinancial and industrial partner of the initiative, will contribute by using the know-how of Angelini Industries to create, support and invest in companies that intend to innovate the traditional paradigms of therapeutic care and patient care by transforming the healthcare ecosystem.
Part of the overall investment of CDP Venture Capital is also dedicated to supporting the launch of new Venture Capital Funds with a focus on the biopharmaceutical sector, which will also have the task of continuing to finance the most promising startups born in Extend. Chief among these is Indaco Bio Fundthe new fund, launched by Indaco Venture Partners Sgr, which announced the first closing at 95 million euros with a collection target of 150 million, entirely dedicated to biotech and pharma.
Extend’s headquarters will be in MIND Milanothe new district of scientific excellence in Italy focused on life sciences.
The Scientific Promoters of the initiative areIRSCC San Raffaele Hospital in Milanthe University of Milan, Firenze, Modena e Reggio Emilia, Padova, La Sapienza of Romethe regional research district of Puglia through H Bio and it Human Technopole.