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Orange Grove Bio Explores Academic Collaboration with Weizmann Institute of Science to Navigate the Rapidly Emerging Middle East Biotech Ecosystem

Thursday, February 01, 2024

Orange Grove Bio, a pharmaceutical investment and development firm, has recently unveiled a strategic collaboration with Bina, the translational research and innovation unit of the renowned Weizmann Institute of Science in Rehovot, Israel. The partnership aims to enhance the burgeoning biotechnology entrepreneurial ecosystem in the Middle East.

The Weizmann Institute of Science is globally recognized for its scientific excellence and innovation, housing 280 research groups across faculties such as biology, biochemistry, and chemistry. The institute has played a pivotal role in foundational research supporting the development of key therapeutics like Gleevec®, Copaxone®, Rebif®, and Erbitux®.

The collaboration agreement with the Weizmann Institute encompasses a formal memorandum of understanding with its academic innovation hub, Bina. Bina focuses on identifying and supporting early-stage basic research projects with practical applications. Orange Grove will offer guidance and mentorship for cutting-edge research at the Weizmann Institute, contributing to the institute's commitment to scientific excellence.

This collaboration reflects Orange Grove's ongoing international expansion efforts to identify and foster innovative biopharmaceutical research globally. The Middle East, as the world's fifth-largest pharmaceutical market, presents significant opportunities for Orange Grove, driven by government support, strategic partnerships, and investments from major pharmaceutical companies.

Marc Appel, CEO of Orange Grove Bio, expressed optimism about the collaboration, stating, “The Middle East is rapidly establishing itself as home to some of the most promising research that will drive the next generation of drug discovery and development.” The partnership with the Weizmann Institute, known for its history of innovation and excellence, strategically positions Orange Grove Bio in this region.

Professor Irit Sagi, Vice President for Innovation and Technology Transfer at the Weizmann Institute of Science, emphasized the significance of the partnership in supporting and investing in basic science research, underlining its role in fostering future innovations for the benefit of humanity.

As part of the collaboration, Orange Grove Bio and Bina will actively seek scientific discoveries at the Weizmann Institute and collaborate on proof-of-concept initiatives in drug development across various therapeutic areas. This includes educational programs, mentoring sessions, and a graduate internship program to provide real-world industry experience for scientific staff, including faculty and students.

Orange Grove Bio's overarching mission is to develop new therapeutic options by leveraging the research potential of universities and academic medical centers globally. The firm, with substantial drug development and company creation experience, aims to build and finance innovative programs from the research and development stage to clinical trials.

 

Source: globenewswire.com

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