Pharma Focus America

BaseLaunch and AbbVie Forge Exciting New Partnership

Thursday, May 23, 2024

BaseLaunch, headquartered in Basel, has unveiled a significant collaboration with AbbVie, a leading pharmaceutical company. AbbVie's strategic investment in BaseLaunch provides them access to top-tier life science opportunities in central Europe. With a seat on BaseLaunch's investment board, AbbVie brings its invaluable expertise in biotech innovation and drug development, bolstering BaseLaunch's ability to nurture startups.

AbbVie joins a prestigious group of pharmaceutical giants, venture funds, and biotech partners supporting BaseLaunch's mission of fostering exceptional biotech startups. Alongside Roche, Novo Nordisk, Johnson & Johnson, CSL, Pureos Bioventures, CMS, and Bridge Biotherapeutics, AbbVie enhances BaseLaunch's position as a key player in the biotech ecosystem. Since its inception in 2018, BaseLaunch has supported 24 early-stage biotech ventures, facilitating financing and providing comprehensive support for company establishment and growth, culminating in Series A funding rounds. Notably, 10 of these ventures have collectively raised over US$ 600 million, with six progressing to clinical stages. The acquisition of T3 Pharma, a BaseLaunch-supported company, for US$ 500 million underscores the incubator's success. BaseLaunch continues to expand its portfolio with promising ventures like Salvina Therapeutics, dedicated to advancing therapies for inflammatory and autoimmune diseases.

Christian Schubert, Vice President and Head of AbbVie Ventures, Cambridge, MA, emphasized the strategic significance of AbbVie's investment in BaseLaunch, aiming to strengthen ties with the European biotech landscape and contribute AbbVie's expertise to drive innovation. Stephan Emmerth, Director of Business Development & Operations at BaseLaunch, hailed AbbVie's partnership as a testament to Basel's prominence as a global life sciences hub and anticipates their collaboration will further propel the success of BaseLaunch's portfolio.

Operated by Basel Area Business & Innovation, BaseLaunch leverages Basel's position as a premier life sciences hub and collaborates with an array of international life sciences organizations to attract and nurture groundbreaking biotech startups, positioning itself as a catalyst for the next wave of innovation.

 

Source: prnewswire.com

Thermo Fisher Scientific - mRNA ServicesFuture Labs Live USA 2024World Vaccine Congress Europe 2024World Orphan Drug Congress 2024Advanced Therapies USA 2024World Orphan Drug Congress Europe 2024