Eurofarma, a Brazilian pharmaceutical company, announced the creation of a corporate venture capital fund aimed at supporting innovative companies in the field of biotechnology.
It plans to invest up to USD$100 million in startups, known as biotechs, in the early stages of research and development of medicines.
Named Eurofarma Ventures, this corporate fund was established to strengthen the company’s presence in the field of innovation, aiming to collaborate with startups adopting disruptive approaches at the frontier of science and pharmaceutical research.
In addition to this initiative, Eurofarma also stands out for its significant involvement in Research and Development, Licensing, and Preclinical Development. Planned investments for 2023 exceed BRL$600 million (USD$122.7 million).
“This innovation we are bringing to the market reflects our innovative DNA, which has helped build our history over the past 50 years. With Eurofarma Ventures, we want to be increasingly close to radical innovation, supporting companies dedicated to disruptive discoveries.”
“That is our path of innovation, whose main goal is to offer people solutions in health that allow them to live longer and better,” highlighted Martha Penna, Vice President of Innovation at Eurofarma.
The company, which already has Eurolab, the largest pharmaceutical innovation park in Latin America, with over 600 researchers working on more than 400 projects for new drugs, as well as a laboratory dedicated to discovering new molecules through organic synthesis, expands its horizons with Eurofarma Ventures.
To date, this fund has already invested in three companies, and it is expected to support up to 25 biotechnology companies in approximately five years.
It will focus particularly on areas such as precision medicine, gene editing, new therapeutic targets, and artificial intelligence applied to molecule discovery.
“Eurofarma Ventures has a defined thesis, and we will evaluate projects in some fronts such as rare diseases, neurodegenerative, autoimmune, infectious, and oncological diseases.”
“Our goal is to find companies that have a good combination of a solid innovation platform and promising products. We are aligned with the best practices in the world,” explained Pavel Herman, Fund Director.
Among the investments already made is Abcuro, a company dedicated to the development of innovative immunotherapies for treating autoimmune diseases and cancer.
With the creation of Eurofarma Ventures, Eurofarma joins a select group of global investors in biotechnology, contributing to the progress of research and the discovery of new drugs and therapies.