Angelini Pharma and Lumira Ventures have launched the Angelini Lumira Biosciences Fund with a $35 million commitment from Angelini. The fund, which will be managed by Lumira, a Canadian life sciences venture capital firm, will invest in early-stage companies developing pharmaceuticals to treat central nervous system disorders and rare diseases.
Rome, 28 July 2021 – Angelini Pharma, part of the privately-owned Angelini Holding, and Lumira Ventures today announced the launch of the Angelini Lumira Biosciences Fund (ALBF). The fund, which will be managed by Lumira Ventures, a leading North American life sciences venture capital firm, has been established to invest in early-stage companies in Canada and U.S. markets, that are developing pharmaceutical therapies for central nervous system disorders (CNS) and rare diseases. Angelini Pharma will commit $35 million to ALBF and will be the sole institutional investor in this bespoke fund.
“We are delighted to have the opportunity to work with Lumira to build a portfolio of investments in companies developing cutting edge therapeutics in areas of high unmet medical need. The formation of ALBF represents a significant step in the expansion of Angelini Pharma’s corporate venturing and innovation strategy and will give us access to some of the most innovative technologies in our focus areas being developed in the U.S. and Canada” Pierluigi Antonelli, Angelini Pharma’s CEO, stated “This project, after the acquisition of Arvelle Therapeutics and the investment in the newly-created European start-up studio Argobio, is another important step towards our ambition to be an innovation leader in mental health, CNS and rare diseases. It also confirms the key support of our shareholders to the growth strategy we have been executing over the last two years.”
Francesco Paolo di Giorgio, Angelini Pharma’s Global Head of R&D External Innovation and Corporate Venturing commented: “ALBF combines an innovative corporate venturing approach with a proven venture capital structure. Angelini Pharma will use its experience in CNS therapeutics, drug development and its extensive European network to support Lumira in identifying the most promising therapeutic programs and provide support and advice to help its portfolio companies succeed. Lumira will manage the Fund and use its expertise and network to help Angelini Pharma meet its strategic objectives and achieve a financial return commensurate with the risk of investing in early-stage life science companies.”
“We have a long history of working successfully with corporate strategic partners like Angelini to give them unique local market insights and access to innovations that support their long-term business objectives,” stated Peter van der Velden, Managing General Partner of Lumira Ventures. “We see these kinds of collaborations as highly accretive to our core investing activities, and we are extremely excited to partner with a company that so completely shares in our vision and passion for building a portfolio of investments in companies developing cutting edge therapeutics in areas of high unmet medical need.”
Angelini Pharma will also invest $5 million as a limited partner in Lumira Ventures IV, a $220 million life sciences fund, announced last week. Earlier this year the company invested in, and is actively involved with, Argobio, a newly created European start-up studio dedicated to life sciences.
About Angelini Pharma
Angelini Pharma is an international pharmaceutical company, part of the Italian privately-owned Angelini Group. Angelini Pharma is committed to helping patients in the therapeutics areas of Central Nervous System and Mental Health, Rare Diseases and Consumer Healthcare. Over the past 50 years, in the field of mental health, Angelini Pharma has gained international recognition for its substantial efforts to improve the management of patients with mental health disorders thanks to important, internally developed, molecules (such as trazodone) and its commitment to fighting mental health stigma. Angelini Pharma operates directly in 20 countries employing almost 3.000 people and commercializes its products in more than 50 countries through strategic alliances with leading international pharmaceutical groups. For additional information visit www.angelinipharma.com.
About Lumira Ventures
Lumira Ventures is a North American healthcare venture capital firm with a two-decade track record investing in transformative biomedical companies. The firm is a multi-stage investor that partners with mission-driven entrepreneurs and like-minded investors to build innovative companies in the biotechnology, medical device and digital health sectors. These companies are harnessing rapidly evolving innovations in genomics, cell therapy, gene therapy, bioengineering, robotics and artificial intelligence to develop high impact, often transformative products for patients while generating exceptional returns for our investors and meaningful economic value to society. To date, Lumira companies have brought dozens of biomedical innovations to the market, impacting the lives of over 1 billion patients worldwide and generating over $70 billion of cumulative revenue. Lumira Ventures manages its activities from offices in Toronto, Montréal, Vancouver and Boston.