Boehringer Ingelheim has agreed to more than double the amount of funding allocated to its Boehringer Ingelheim Venture Fund (BIVF).
The company is upping the amount of money dedicated to its corporate venture fund to EUR 250 million (GBP 222.35 million), up from EUR 100 million, while the number of investment managers working for the fund will also be doubled.
“Boehringer Ingelheim is increasing support for its corporate venture fund to invest in additional early-stage startup companies.“
Additional funds will be used to invest in promising early-stage startup companies working in fields such as regenerative medicine, infectious disease and immuno-oncology, as well as growing the company's portfolio in the US and branching out into digital health.
The BIVF's existing portfolio of biotech and startup companies focuses on various therapeutic areas of interest and includes 21 businesses, including success stories such as Rigontec, ViraTherapeutics and Okairos.
Dr Frank Kalkbrenner, corporate vice-president and head of the BIVF, said: "We at the BIVF are inspired by the opportunity to increase investments and work across some of the most promising areas of biomedical research to date."
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