Eurofarma, a Brazilian firm with operations in Latin America and the United States, has unveiled plans to launch a corporate venture capital fund targeting innovative biotech companies in Colombia.

With an initial investment of up to $100 million, the fund, called 'Eurofarma Ventures', will focus on startups known as biotechs, which are in the early stages of drug discovery and development.

This fund is part of Eurofarma's efforts to expand its research activities and approach emerging companies with disruptive approaches to drug science and research. The company has highlighted its strong presence in R&D, Licensing and Preclinical Development, with investments in 2023 exceeding $121.5 million and a leading pharmaceutical innovation park in Latin America, Eurolab.

In 2023, the pharmaceutical industry in Colombia experienced significant growth, marking an important milestone in its development. According to projections, laboratories have generated revenues of approximately US$2.531 billion, which represents a notable increase compared to previous years.

Pavel Herman, the fund's director, said that Eurofarma Ventures will focus on areas such as rare diseases, neurodegenerative, autoimmune, infectious and oncology. The fund has already made investments in three companies and is expected to support up to 25 biotechs within five years, prioritizing precision medicine, gene editing and new targets in the area, including artificial intelligence applied to molecule discovery.

Current investments include Abcuro, a company that develops pioneering immunotherapies for the treatment of autoimmune diseases and cancer. Martha Penna, Vice President of Innovation at Eurofarma, emphasized that this fund reflects the company's commitment to innovation, with the aim of moving ever closer to radical innovation and supporting disruptive discoveries in healthcare.

Foto tomada de: https://www.greatplacetowork.com.pe/mejores-lugares-para-trabajar/los-mejores-lugares-para-trabajar-en-per%C3%BA/2023/eurofarma

The Eurofarma Ventures fund is already operating, with an investment limit per company and per stage of US$5 million. Eurofarma, with a presence in more than 21 countries, including Colombia, where it has been operating since 2010, thus reaffirms its commitment to the development and commercialization of high quality pharmaceutical products to meet the needs of patients throughout the region.

Bibliography
https://www.eltiempo.com/economia/empresas/eurofarma-en-que-invertira-100-millones-de-dolares-en-colombia-le-contamos-805321