GENESIS Tech Transfer Boost, a new investment vehicle to early stage projects from healthcare research
The consultancy firms GENESIS Biomed, based in the Barcelona Science Park, and FI Group have created GENESIS Tech Transfer Boost, a new investment vehicle initially endowed with €1M that will invest in early stage projects in the field of health research. This new fund will base its scouting on all projects coming from the main health research institutes in Spain, as well as from the nodes of the ITEMAS network, promoted by the Carlos III Health Institute (ISCIII).
GENESIS Tech Transfer Boost will invest tickets from 25k to 100k per project, in exchange for equity in the companies already created, or in exchange for an equity commitment in the projects that will become spin-offs at a later stage. This funding will be aimed at generating maximum value in the projects invested, from the generation of key proofs of concept to patent protection of the results, including the preparation of the business plan and the application for regional, national, and international public funding. The investment focus will be very cross-cutting, including pharma, medtech, diagnostics and digital health projects.
The vehicle has been created thanks to the synergy between the consulting firms GENESIS Biomed and FI Group, which have been collaborating for several years with several common success stories, such as the companies Corify Care, CreatSens, Cornea Project, Oxolife, Telara Pharma, Aortyx, Mowoot, ADmit Therapeutics, Endolipid Therapeutics, AptaTargets and Anais Medical, among others.
According to Josep Lluís Falcó, CEO of GENESIS Biomed,”with the creation of this new vehicle we intend to invest in very early projects, even in the pre-constitutive phase, which will be spinoffs in the near future, and which are now when they most need an economic contribution in order to generate value and be attractive in the future for large investors in the sector”.
In the words of Iván Ruiz, CEO of FI Group, “with this agreement we enable access to the most professional and extensive public-private financing of projects in a sector that is crucial for the future of our economy, health research, where after what happened with COVID, it is even more important”.
The company Crowd4Ventures, led by Agustí Soler, has also participated in the constitution of the vehicle. He points out that “the entry into this investment vehicle allows us to actively participate in very early stages of biotech companies, a stage that was not covered by existing funds and therefore represents an opportunity to fill this gap and helps to consolidate technology transfer in our country”.
This investment model has already been previously validated by the vehicle that the consulting firm GENESIS Biomed created in 2017, called GENESIS Ventures, which has invested in 14 biomedical projects. Of these 14 projects, the exit scenario has already taken place in one, while 6 others have already closed successive investment rounds with different investors, and 5 others are in the process of investment rounds. The valuation of the GENESIS Ventures portfolio has reached a multiplier of x3.5 in 4 years.
» For further information: GENESIS Biomed website [+]