BaseLaunch announces a new partnership with AbbVie

• Further strengthens BaseLaunch's global pharma industry partnerships
• 24 early-stage biotech ventures have now been supported by BaseLaunch
• Portfolio companies have raised over US$ 600 million in equity capital.

BASEL, Switzerland, May 22, 2024 /PRNewswire/ -- BaseLaunch, the Basel-based biotech venture incubator, today announces that AbbVie has become its newest partner. Through this strategic investment into BaseLaunch, AbbVie gains access to the highest quality life science deal flow in central Europe. By taking a seat on BaseLaunch`s investment board, AbbVie will lend its unique experience in biotech innovation and development of medicines that matter to the incubator. This will greatly add to the venture building capabilities of BaseLaunch.

AbbVie joins other pharmaceutical, venture fund and biotechnology partners supporting BaseLaunch's company creation endeavours. BaseLaunch's mission is to help scientists and entrepreneurs build exceptional biotech companies. Its partners now include AbbVie, Roche, Novo Nordisk, Johnson & Johnson, CSL, Pureos Bioventures, CMS and Bridge Biotherapeutics. Since 2018, BaseLaunch has supported 24 early-stage biotech ventures, providing financing and assisting in all aspects of company creation and growth up to Series A financing. Of the 24 ventures, 10 have now collectively raised over US$ 600 million in equity capital, and six have assets that have entered the clinic. Last year, T3 Pharma, a company initially supported by BaseLaunch, was acquired for US$ 500 million. Further highly promising ventures are being added to BaseLaunch's portfolio on a rolling basis. The most recent, Salvina Therapeutics, is developing new therapies to break efficacy ceilings in inflammatory and autoimmune diseases.

Christian Schubert, Vice President and Head of AbbVie Ventures, Cambridge, MA, commented: "Through our strategic investment in BaseLaunch, we will further strengthen our ties to the European biotech innovation ecosystem. With our involvement in the review process and funding decisions through our investment board seat, we aim to contribute to BaseLaunch's company creation track record and leverage AbbVie's expertise in translating innovative science into novel therapeutics. We look forward to working closely with the BaseLaunch team to enable the progress of innovative venture companies and medicines."

Stephan Emmerth, Director Business Development & Operations at BaseLaunch, Basel, CH added: "Today's announcement further validates the Basel area's unique position as a global life sciences hub, and we are delighted to welcome AbbVie as our newest partner. AbbVie is a leading global pharmaceutical player which will be a source of world-class help and advice, instrumental to the successful development of our growing portfolio of cutting-edge biotech companies."

BaseLaunch is operated by Basel Area Business & Innovation, the investment and innovation promotion agency of the Basel region. BaseLaunch has partnered with a diverse group of international life sciences organizations with the aim of harnessing the Basel area's unique position as a global life sciences hub, as well as its rising popularity among investors, to attract the next generation of breakthrough companies.

About BaseLaunch

BaseLaunch is the Basel-based incubator and accelerator that helps scientists and entrepreneurs launch exceptional biotech companies. It serves as a growth platform for early-stage ventures developing cutting-edge therapeutics. BaseLaunch helps build companies from inception through to Series A funding, providing financing and supporting all aspects of company creation and growth. It is operationally run and financed by Basel Area Business & Innovation, the investment and innovation promotion agency helping companies, institutions and startups find business success in the Basel area. BaseLaunch partners with leading global pharma and biotech companies and a venture fund – AbbVie, Roche, Novo Nordisk, Johnson & Johnson, CSL, Pureos Bioventures, Bridge Biotherapeutics and CMS, which also feed into the pool out of which BaseLaunch funds ventures.

Domain and regional partners include KPMG, Vossius & Partner, Alloy Therapeutics, Walder Wyss attorneys at law, WuXi AppTec, KPBMA, Lonza, Charles River Laboratories, Schrödinger, Wuxi Biologics, VISCHER as well as the Tech Park Basel, and the Switzerland Innovation Park Basel Area. Since 2018, BaseLaunch supported ventures have raised in total over US$ 600 million. Harnessing the Basel area's unique position as a global life sciences hub, as well as its rising popularity among investors, BaseLaunch is looking to attract the next generation of breakthrough companies. Interested groups can find more information at www.baselaunch.ch.

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SOURCE BaseLaunch