Elanco Animal Health Incorporated (NYSE: ELAN) announced plans to establish Elanco Ventures, a corporate venture capital platform backed by a $25 million multi-year commitment, according to a company press release.

Set to launch in late 2026, the fund will focus on early-stage companies at the Pre-Seed, Seed, and Series A stages, with an initial emphasis on therapeutic advancements and supporting technologies in the animal health sector. The platform may also explore opportunities within the broader One Health space, which encompasses animal, human, and plant health.

Eric Steager, described as an experienced corporate venture capital leader, will oversee Elanco Ventures.

Jeff Simmons, President and CEO of Elanco, said in a statement: "Innovation is happening outside of the boundaries of any single company. Elanco Ventures allows us to strategically leverage the startup landscape to expand our visibility into a range of emerging technologies that help us meet pet owners' evolving expectation of care and the increasing global demand for protein."

The fund will also work alongside the One Health Innovation District in Indianapolis, a development anchored by Elanco and Purdue University that is designed to connect life sciences companies, researchers, and entrepreneurs.