Angelini Pharma and Lumira have launched the Angelini Lumira Biosciences Fund (ALBF), which 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. The ALBF will be managed by Lumira Ventures and Angelini Pharma will commit $35 million to ALBF and will be the sole institutional investor.
Pierluigi Antonelli, Angelini Pharma’s CEO, said: “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, said: “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.”