FutuRx News
7 articles
Atomwise and FutuRx Launch A2i Therapeutics - A New Immuno-Oncology Company Funded By Leading Biopharma VCs and the Israeli Innovation Authority
https://www.marketwatch.com/press-release/biotech-incubator-futurx-announces-new-investor-leaps-by-bayer-2020-07-28
RM Global raises $64m for FutuRx investments
RM Global has closed a second financing round of $34 million for its RMGP Biopharma investment fund. The fund aims to invest in companies at the FutuRx biotech incubator in Ness Ziona, Israel. The first financing round of $30 million was held in 2017. RMGP Biopharma brings capital and connections to the table without being a franchise holder, allowing them to invest selectively in companies in the incubator. The investors in the fund are primarily life sciences investment institutions, funds, and non-mega pharma companies from the US, Israel, South America, and Asia. RMGP Biopharma has already made investments in companies such as BiomX, Mitoconix Bio, Pi Therapeutics, Bsense Bio Therapeutics, PiNK Biopharma, and ImmPACT-Bio. The fund aims to support these companies until they hold IPOs.
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RM Global to invest $30m in FutuRx biotech startups
US-based international investment bank RM Global is establishing a new venture capital fund that has already closed its first financing round of $30 million and will soon embark on a second financing round. The fund will invest exclusively in companies operating in Israels FutuRx incubator (accelerator) in Ness Ziona near Rehovot. The fund has raised money from financial and strategic investors, and hopes to raise additional tens of millions of dollars.
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J&J, Takeda team up to open Israeli biotech incubator
Johnson and Johnson, along with Takeda Pharmaceuticals and OrbiMed, has opened a biotechnology incubator in the Weizmann Science Park in Israel. The incubator, called FutuRx, has enrolled its first two members, Hepy Biosciences and XoNovo. The companies will be funded up to $2 million, with the Chief Scientists Office providing 85% of the funding. Johnson and Johnson and its partners have pledged over $28 million to fund companies in the incubator. The incubator aims to support early-stage biopharm companies that may not have been able to obtain financing through regular channels. The collaboration between government, industry, and venture capital provides a unique platform for funding and strategic advice.
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FutuRx biotech incubator selects first two projects
XoNovo, a biotech startup, has entered an incubator program and received investments from OrbiMed Advisors LLC, Johnson and Johnson, and Takeda Pharmaceutical. The company is developing a drug to treat Alzheimers Disease and other brain degenerative diseases. The drug has shown positive results in animal trials, reducing cognitive degeneration and the accumulation of disease-related materials in the brain. XoNovo will also focus on treating Batten, an orphan disease. The incubator program provides financing to high-risk companies, with the state covering 85% of the budget. The goal is to consolidate the bio-pharma industry in Israel. Another company in the incubator program is Hepy Biosciences, which is developing a cancer drug. The program aims to support the development of medical technology for the benefit of patients.
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Israel takes a risk on tomorrow's epic drugs
FutuRx, an Israeli biotechnology accelerator, has received backing from OrbiMed Israel Partners, Johnson & Johnson, and Takeda Ventures. The accelerator aims to incubate up to 40 early-stage drug-development companies over the next eight years. FutuRx offers a unique private-public partnership to reduce risk in investing in breakthrough science. The Israeli governments support of risky projects was a key factor in attracting the partners. The accelerator provides fully equipped labs and support services to startups, with the expectation that they will be able to raise money from the private sector after the incubator term. FutuRx has already chosen two startups to support and plans to approve up to six more projects in the coming months.
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