Ben Venue, Roxane parent launches $135M life sciences fund

The German parent of Ben Venue and Roxane drug-making facilities in Ohio has launched a […]

The German parent of Ben Venue and Roxane drug-making facilities in Ohio has launched a $135 million venture fund to foster innovation in the life sciences.

Boehringer Ingelheim GmbH of Ingelheim, Germany, started Boehringer Ingelheim Venture Fund to invest in biotech and start-up companies worldwide “that provide ground-breaking therapeutic approaches and technologies to help drive innovation in medical science,” the company said in a release.

Such approaches and technologies include stem cell and genetic therapies, as well as next-generation vaccines, protein or antibody technologies, molecular targets and first-in-class lead compounds. The fund also would invest in disease-related biomarkers.

These are new areas of investment for Boehringer Ingelheim, which in Ohio is known for making generic drugs through its Ben Venue Laboratories and Roxane Laboratories units in Bedford Heights and Columbus, respectively. Last year, the German parent invested $217 million to expand both facilities, creating 350 jobs, according to BioOhio.

“Our investments will extend beyond the current therapeutic area focus of Boehringer Ingelheim and our existing therapeutic approaches and technologies,” said Andreas Barner, chairman of the managing directors board at the company, in a written statement.

“We have extensive drug discovery expertise and can take advantage of knowledge and experience available within our global organization, but we are aware that there is an entire landscape of novel therapeutic ideas and potentially breakthrough technologies that need to be supported for future patients’ benefit,” Barner said.

Worldwide, the company has aggressively partnered with and acquired drug companies to build and diversify its product pipeline.

Last month, Boehringer Ingelheim started a tender offer to buy the outstanding stock of its Japanese subsidiary SSP CO. Ltd. It  has partnered with other companies on products from cancer drugs to a multi-dose inhaler to deliver dry-powder medicine to the lungs. The venture fund hopes to make its first investments this year.

“By focusing on novel therapeutic concepts and potentially breakthrough technologies, our venture fund represents a long-term investment in external innovation,” said Dr. Michel Pairet, head of the fund. “Our philosophy is to provide both our expertise and funding to drive innovative ideas from early stages into clinical testing.”

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