BIOVELOCITA, THE FIRST BIOTECH ACCELERATOR IN ITALY, COMPLETES SERIES A
The new capital increase secures over € 7.2 million. BiovelocITA has raised in total more than € 14 million for red biotechnology.
Milan, 16 March 2017 – Biovelocita s.r.l., the first biotech accelerator in Italy, has secured 7,245,000 Euro in a fundraising campaign coordinated by Banca Profilo S.p.A. and BANOR SIM S.p.A. The round included new private Italian investors and a follow on from some existing shareholders. Adding to the 7.4 million Euro raised previously, this is one of the largest series A financing achieved in Italy by a start up company in the past two years.
With over than 14 million Euro, BiovelocITA strengthens its strategic position of accelerator connecting research to the biotech industrial sector, an increasing driving force for growth in Italy, with a total turnover exceeding 9.4 billion Euro.
BiovelocITA was founded at the end of 2015 by Silvano Spinelli, Gabriella Camboni and Sofinnova Partners, a Venture Capital company global leader in the life sciences sector. The first increase in early 2016, was underwritten by founders, Atlante Seed and by private investors coordinated by BANOR SIM S.p.A.. About one year from inception, BiovelocITA already has a portfolio of three outstanding programs in collaboration with world-class Italian scientists and encompassing rare genetic diseases, diabetes, oncology and cellular senescence.
Spinelli and Camboni together with Sofinnova Partners founded EOS, that was sold in 2013 to Clovis Oncology for 470 million US$. Previously they founded Novuspharma, a company that was listed on the Italian “Nuovo Mercato” in 2000.
BiovelocITA’s C.E.O. Gabriella Camboni commented: “We are actively scouting and have come across numerous exciting projects. This strong endorsement from the market strengthens our commitment to turning high-potential scientific programs into clinical applications”
BiovelocITA will expand its portfolio through collaborations with companies, scientific institutions and university research groups, aiming to accelerate promising research projects to proof of concept and transform them into biotech companies
BiovelocITA S.r.l. is the first Italian accelerator dedicated to biotech. It was founded by Silvano Spinelli, Gabriella Camboni and Sofinnova Partners. Thanks to BiovelocITA, entrepreneurs, scientists and investors can work together to accelerate biotech projects with an international scope and reach the “proof of concept” that precedes the clinical phase. Set up in order to offer innovative solutions to the medical community and patients, BiovelocITA supports the creation and development of innovative biotech companies in all therapeutic areas. (www.biovelocita.com)
Sofinnova Partners is a European venture capital company, a leader in the sector and specialised in bioscience. The company has its head offices in Paris, and is made up of 12 highly qualified investment professionals from various European Countries, the United States, and China. Sofinnova Partners focuses on highly innovative technological models, and visionary entrepreneurs. The company’s objective is that of operating as a founding partner and major investor in start-ups and company spin-offs. In over 40 years, Sofinnova Partners has promoted and financed almost 500 companies, creating global market leaders. Sofinnova Partners currently manages funds totaling over 1.3 billion Euros. (www.sofinnova.fr)
Atlante Seed, a venture capital fund belonging to the Intesa Sanpaolo Group, invests in SMEs with high growth potential. Atlante Seed is particularly interested in companies working in hi-tech sectors or in incubators and business accelerators specializing in specific market segments.
BANOR SIM S.p.A. is a company for regulated investments and an Italian “boutique” company specialised in the management of capitals, and in financial consulting services for High Net Worth Individuals (HNWI) and institutions. With offices in Milan, Turin, and also London thanks to its affiliate BANOR Capital Ltd, Luxembourg, and Lugano, BANOR SIM has for many years provided to support to large entrepreneurial families. BANOR SIM manages assets worth over 4 billion Euros. (www.banor.it)
Banca Profilo S.p.A. is an independent bank that provides specialist consultancy services for the management of the global assets of private and institutional clients and for financial needs of businesses. The Banca Profilo banking group is present in Milan, Rome, Genoa, Reggio Emilia, Turin, Brescia, Bergamo and Geneva. (wwwbancaprofilo.it)
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