Under the terms of the agreement, Pontifax will identify ventures and technologies from academia, seed level projects and later stage companies in Israel that could strengthen Roche’s R&D portfolio.
Both Roche and Pontifax will provide financial support to the new ventures. In addition, Roche will assess investment opportunities and offer support to the selected ventures through access to its vast resources in scientific knowledge, drug development, regulation, clinical studies, manufacturing and marketing expertise. At the same time, Pontifax will provide management support.
This collaboration will initially focus on two primary activities: Seed Stage companies in an incubator setting and later-stage Biotechnology Companies.
Seed Stage companies: Roche and Pontifax will invest together in selected companies or projects within the areas of research, technology or compounds related to innovation areas selected by Roche. The selected start-ups will be admitted to one of the incubators affiliated with Pontifax. The joint investment will complement Israel’s Office of the Chief Scientist funding of the project through the incubator program.
Biotechnology Clusters: Pontifax will lead a process of identifying companies in Israel’s biotechnology clusters that could be of interest to Roche for potential collaborations. Roche and Pontifax will define the focus of the proposed clusters, aiming at investing in and providing support to companies within the cluster framework that are of a potential strategic value to Roche.
In June 2009, representatives from Roche will attend "Israel Biomed ", Israel's premier life sciences conference, to meet with potential Israeli start ups and establish investment opportunities. (additional details: http://www2.kenes.com/biomed/pages/home.aspx)
Tomer Kariv, CEO, Pontifax, says: "Combining Roche's expertise and immense resources with our local, hands-on management oversight, presents a unique opportunity for the Israeli bio-pharma start-ups to go global. The deal testifies to the variety and quality of the Israeli innovative industry, and reflects our commitment to continue nurturing and advancing a select portfolio of scientifically and commercially viable companies."
About Pontifax Management II L.P. & Pontifax:
Pontifax Management II L.P. is the General Partner of the Pontifax Funds, i.e., "Pontifax". Pontifax is a venture capital fund operating in Israel and specializing in investments in the life science sector. Pontifax is chaired by Eli Hurvitz (Chairman of Teva Pharmaceuticals), and managed by Tomer Kariv and Ran Nussbaum.
Pontifax began activities in 2004 and currently manages two funds with aggregate commitments of some $120 million. Pontifax is a leading investor in companies such as Protalix, Aposense, Collplant, Macrocure, and Biomedix-the parent company of the Meytav and ATI incubators.
