BB Pureos Bioventures Joins BaseLaunch Phase II as the First Venture Capital Fund

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Jun 08, 2020, 05:00 ET

BASEL, Switzerland, June 8, 2020 /PRNewswire/ -- BaseLaunch, the Basel Area-based biotech venture accelerator and incubator, and BB Pureos Bioventures, a newly formed Swiss biotech venture capital fund, today announce that Pureos becomes the first venture capital partner of BaseLaunch Phase II, the next phase in BaseLaunch's company building activities.

Pureos joins Roche in supporting BaseLaunch's investment in innovation, with additional partners being announced over the coming weeks and months. Building on the success of its first phase, BaseLaunch Phase II will:

Increase funding per venture to a maximum of USD 0.5 million (versus USD 0.25 million previously)
Have a new, and increased pool of partners
Establish BaseLaunch as an "evergreen" permanent initiative
Accept applications year-round, rather than once per year

Pureos is a newly formed venture capital fund located in Zurich to exclusively invest in private innovative drug development companies, with a special emphasis on the next generation of biological drugs and drug formats. The fund supports early-stage drug development companies through all stages. Pureos is advised by Bellevue Asset Management, which manages more than USD 11 billion and has been active in the healthcare investing since 1993. Pureos' initial portfolio companies include NovaGo Therapeutics, AM Pharma, Eyevensys and Alentis Therapeutics. Alentis was part of BaseLaunch's first phase portfolio. Pureos co-led Alentis' Series A financing in April 2019. Alentis is built on a transformational platform for the treatment of advanced fibrotic diseases, such as liver fibrosis and hepatocellular carcinoma.

Anja Harmeier, Partner at BB Pureos Bioventures commented: "We are delighted to join BaseLaunch as a partner in the next phase of its company building activities. The Pureos team worked closely with BaseLaunch during the Series A funding of Alentis Therapeutics and has been very impressed by the team and the quality of the selected programs. As the sole Swiss venture capital fund to join, we look forward to developing our partnership further to support and invest in the next generation of innovative drug development companies in Switzerland and beyond."

Stephan Emmerth, Director Business Development & Operations at BaseLaunch, added: "We are very pleased to welcome Pureos as a partner in BaseLaunch Phase II. As a venture fund, Pureos brings not only operational experience and financing, but also the entrepreneurial flair needed to support and develop early stage therapeutic science. Against an uncertain outlook for many startups due to COVID-19, BaseLaunch is ideally positioned to help launch the next generation of cutting-edge therapeutic ventures, with the partnership of proven companies in place to fund and develop projects exhibiting transformational science."

BaseLaunch serves as an accelerator and incubator 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 business development. During 2018 and 2019, BaseLaunch supported nine early therapeutic ventures which have raised a total of more than USD 100 million in equity capital from US and European venture funds, thereby contributing to the life sciences ecosystem of the Basel Area. Recently, BaseLaunch has added another four ventures to its portfolio, and has been instrumental in contributing to the development of six more ventures in the Basel Area.

BaseLaunch is operated by Basel Area Business & Innovation, the investment and innovation promotion agency of the Basel Area. During its first phase (2017-2019), BaseLaunch was supported by Roche, Novartis Venture Fund, Johnson & Johnson, Pfizer and Roivant Sciences. Having entered its second phase, BaseLaunch is gearing up with new commitments, which more will be announced soon, 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. BaseLaunch Phase II is now open for applications (first application deadline 22^nd June 2020). Interested groups can find information at www.baselaunch.ch/apply/.

About BaseLaunch

BaseLaunch is the Basel Area-based incubator and accelerator that helps scientists and entrepreneurs launch exceptional biotech companies. BaseLaunch 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 business development. Operationally run and financed by Basel Area Business & Innovation, the investment and innovation promotion agency of the Basel Area, BaseLaunch partners with leading global pharma companies and venture funds - the first announced being Roche and BB Pureos Bioventures - which also aliment the pool out of which BaseLaunch funds ventures. Regional and domain partners include the cantons of Basel-Landschaft, Basel-Stadt and Jura as well as KPMG, Vossius & Partner and Infors HT. Since 2018, BaseLaunch supported ventures have raised in total over USD 100 million. Harnessing 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 and is now open for applications (first application deadline 22^nd June). Interested groups can find more information at www.baselaunch.ch

About Basel Area Business & Innovation

Basel Area Business & Innovation is the investment and innovation promotion agency dedicated to helping companies, institutions and startups find business success in the Basel Area. The organization targets and attracts companies to settle, supports founders of innovative ventures, and drives high growth initiatives in order to establish the region as the Swiss business and innovation hub of the future. The non-profit agency focuses on growing the area's cutting-edge industries life sciences, healthcare and production technologies and manages the Switzerland Innovation Park Basel Area which houses the organization's accelerator programs. The agency serves the cantons of Basel-Landschaft, Basel-Stadt and Jura. www.baselarea.swiss

About BB Pureos Bioventures

BB Pureos Bioventures is a newly formed venture capital fund, advised by Bellevue Asset Management, with offices in Zurich, London and New York. Active since 1993, Bellevue manages more than six billion dollars in the healthcare sector. Pureos invests exclusively in private innovative drug development companies, with a special emphasis on the next generation of biological drugs and drug formats. With its dedicated and experienced team of venture capitalists and biotech entrepreneurs, Pureos strives to impact patients' lives by advancing innovative treatments for severe diseases. For further information, see www.pureosbio.com

SOURCE BaseLaunch