Bayer and Boehringer Ingelheim invest in HTGF III
May 29, 2018
Bayer and Boehringer Ingelheim’s investment fund BIVF (Boehringer Ingelheim Venture Fund) are investing in High-Tech Gründerfonds’ third fund, HTGF III. The investment grants the two international pharmaceutical companies access to innovative life science start-ups along with the fund’s large-scale network spanning the entire start-up landscape. High-Tech Gründerfonds, Europe’s most active seed investor, launched its third fund back in September 2017. HTGF III has a final target volume of EUR 316,5 million. These latest investments mean that two major companies on the global stage have joined the fund’s pool of investors.
Motivation of the investors
High-Tech Gründerfonds is an ideal partner for Bayer and Boehringer Ingelheim as they look to intensify their collaboration with life science start-ups. Bayer sees start-ups as key partners in the innovation ecosystem. That is why the company is investing in High-Tech Gründerfonds again following its investment in HTGF II, as it looks to promote entrepreneurship in Germany and encourage start-ups to incorporate their ideas into new business models. As part of these endeavours, the company focuses on innovative start-ups in the field of biotech and technology. “Innovation without collaboration is unthinkable in today’s world. Start-ups are important partners for us as we look to achieve our goal of devising new solutions in the field of health and nutrition. That is why we have invested in HTGF III,” explains Dr. Monika Lessl, Head of Corporate Innovation and R&D at Bayer.
Strategic importance of the partnership
Boehringer Ingelheim also banks on external innovation and is constantly expanding its network of innovation partners. Around 50 percent of Boehringer Ingelheim’s R&D projects are based on external innovations. Cooperation with biotech start-ups – through company launches, venture capital investment and collaboration – makes an important contribution to the global pharmaceutical company’s R&D activities. “When the creative energy and pioneering spirit of scientists and biotech founders are combined with the expertise of pharmaceutical companies, new approaches can often be found to tackle medical challenges of the future. By investing in HTGF III, we are looking to make a key contribution to the development of the biotech start-up community,” explains Dr. Frank Kalkbrenner, Managing Director of the Boehringer Ingelheim Venture Fund.
Win-win situation for investors, start-ups and HTGF
HTGF III follows on from the work of High-Tech Gründerfonds’ first two funds. The company looks to guide start-ups from the seed stage to the exit phase by providing financial support, expertise and access to an extensive network of national and international investors, experts, experienced managers, habitual entrepreneurs and scouts. Interests in 91 companies have already been successfully sold. “Bayer and Boehringer’s investment generates a fantastic amount of added value for our portfolio, for High-Tech Gründerfonds, and for the entire biotech start-up landscape. We are very proud to have the opportunity to work with these two highly renowned and strong partners,” explains HTGF Managing Director Dr. Michael Brandkamp.
Bayer is a global enterprise with core competencies in the life science fields of health care and agriculture. Its products and services are designed to benefit people and improve their quality of life. At the same time, the Group aims to create value through innovation, growth and high earning power. Bayer is committed to the principles of sustainable development and to its social and ethical responsibilities as a corporate citizen. In fiscal 2017, the Group employed around 99,800 people and had sales of 35.0 billion euros. Capital expenditures amounted to 2.4 billion euros, R&D expenses to 4.5 billion euros.
Dr. Katharina Jansen
Communications & Public Affairs
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51368 Leverkusen, Germany
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About Boehringer Ingelheim
Improving the health and quality of life of patients is the goal of the research-driven pharmaceutical company Boehringer Ingelheim. The focus in doing so is on diseases for which no satisfactory treatment option exists to date. The company therefore concentrates on developing innovative therapies that can extend patients’ lives. In animal health, Boehringer Ingelheim stands for advanced prevention. Family-owned since it was established in 1885, Boehringer Ingelheim is one of the pharmaceutical industry’s top 20 companies. Some 50,000 employees create value through innovation daily for the three business areas human pharmaceuticals, animal health and biopharmaceuticals. In 2017, Boehringer Ingelheim achieved net sales of nearly 18.1 billion euros. R&D expenditure, exceeding three billion euros, corresponded to 17.0 per cent of net sales.
As a family-owned company, Boehringer Ingelheim plans in generations and focuses on long-term success, rather than short-term profit. The company therefore aims at organic growth from its own resources with simultaneous openness to partnerships and strategic alliances in research. In everything it does, Boehringer Ingelheim naturally adopts responsibility towards mankind and the environment. More information about Boehringer Ingelheim can be found on www.boehringer-ingelheim.com
About Boehringer Ingelheim Venture Fund
Created in 2010, the Boehringer Ingelheim Venture Fund GmbH (BIVF) invests in groundbreaking therapeutics-focused biotechnology companies to drive innovation in biomedical research. BIVF is searching for significant enhancements in patient care through pioneering science and its clinical translation by building long-term relationships with scientists and entrepreneurs. BIVF’s focus is to target unprecedented therapeutic concepts addressing high medical needs in immuno-oncology, regenerative medicine, infectious diseases and digital health. These may include novel platform technologies to address so far undruggable targets, new generation vaccines and/or new biological entities, such as oncolytic virotherapy.
BIVF takes an active role with its portfolio companies – delivering significant added value through its own extensive drug discovery, scientific and managerial expertise. BIVF has €250 million under management and currently supervises a portfolio of more than 20 companies.
For more information, please visit www.boehringer-ingelheim-venture.com
Dr. Reinhard Malin
Media & PR
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55216 Ingelheim am Rhein
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About High-Tech Gründerfonds
High-Tech Gründerfonds (HTGF) is a seed investor that finances high-potential, tech-driven start-ups. With EUR 892.5 million in total investment volume across three funds (EUR 272 million in HTGF I, EUR 304 million in HTGF II, and a targeted volume of EUR 316.5 million for HTGF III) and an international network of partners, HTGF has already helped forge close to 500 start-ups since 2005. Driven by their expertise, entrepreneurial spirit and passion, its team of experienced investment managers and start-up experts help guide the development of young companies. HTGF focuses on high-potential start-ups active in the sectors of software, media, internet, hardware, energy and automation, life sciences (medical technology, diagnostics, biotechnology) and chemicals. Investors in this public-private partnership include the German Federal Ministry for Economic Affairs and Energy, the KfW Banking Group and Fraunhofer-Gesellschaft e.V. as well as a number of well-known companies including ALTANA, BASF, B.Braun, Bayer, Boehringer Ingelheim, Robert Bosch, BÜFA, CEWE, Deutsche Post DHL, Dräger, Drillisch AG, EVONIK, EWE AG, Haniel, Hettich, Knauf, Körber, LANXESS, media + more venture Beteiligungs GmbH & Co. KG, PHOENIX CONTACT, Postbank, QIAGEN, RWE Generation SE, SAP, Schufa, Schwarz Gruppe, STIHL, Thüga, Vector Informatik, WACKER and Wilh. Werhahn KG.