UCB Ventures makes its first direct investment
Series A Financing for StrideBio, Inc.
Brussels, Belgium, 13 June 2018. – Today, UCB Ventures announces its first direct investment in the oversubscribed $15.7 million Series A Financing Round for StrideBio, Inc., a US-based biotechnology company developing novel adeno-associated viral (AAV) vectors for in vivo gene therapies of rare diseases. The financing was led by Hatteras Venture Partners, and in addition to UCB Ventures, co-investors include Takeda Ventures, Inc. and Alexandria Venture Investments, LLC. Erica Whittaker, PhD, Vice President, Head of UCB Ventures, and Jayson Punwani, PhD, Partner, Takeda Ventures, Inc. have joined StrideBio’s Board of Directors.
UCB Ventures is a strategic corporate venture fund established in 2017 to further strengthen UCB’s ability to create value from novel insights and technologies that can transform the lives of patients suffering from severe diseases. Last year, UCB Ventures committed a portion of its €150 million evergreen fund to investments in selected leading international healthcare venture capital funds. The remainder of the funds is allocated for direct investments in biotechnology start-ups applying alternative treatment modalities, innovative therapeutics or technology platforms to address unmet patient needs. Erica Whittaker explained: “UCB Ventures’ investment approach is directed to early stage and higher risk opportunities, in areas adjacent to or even beyond UCB’s therapeutic focus on neurology/neurodegenerative diseases, immunology and muscular skeletal/bone health. We take an active role in nurturing our portfolio companies, adding value by contributing expertise in drug discovery, development and operations.”
Dr Alexander Moscho, Executive VP and Chief Strategy Officer, commented: “We are proud to see our Corporate Venture team making their first investment in a highly innovative biotech company. UCB Ventures is complementing our business development activities to systematically partner with leading companies and institutions to make a difference to patients living with debilitating diseases.”
About UCB Ventures
Visit www.UCBVentures.com to learn more.
UCB, Brussels, Belgium (www.ucb.com) is a global biopharmaceutical company focused on the discovery and development of innovative medicines and solutions to transform the lives of people living with severe diseases in immunology and neurology. With more than 7,500 people in approximately 40 countries, the company generated revenue of € 4.5 billion in 2017. UCB is listed on Euronext Brussels (symbol: UCB). Follow us on Twitter: @UCB_news
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