Wed, 03/09/2014 - 11:40
The Chiesi Group has launched a venture capital fund, Chiesi Ventures, via a collaboration with A M Pappas & Associates.
Chiesi Ventures will complement the strategic interest of the Chiesi Group in the area of rare diseases by investing in early stage opportunities and expanding the Chiesi network in the US among universities, venture capital investors, rare disease patient organisations and entrepreneurial companies developing treatments for rare diseases.
Chiesi Ventures will have offices in Boston (Massachusetts), Research Triangle Park (North Carolina) and Parma (Italy) and will focus on investment opportunities in the US and Europe. It will operate as an independent investment vehicle while maintaining a strategic connection with the Chiesi Group.
"We have taken a strategic approach in launching our fund and decided to work with an established venture fund with proven experience and a solid investment track record in building companies that are developing therapies for orphan and rare diseases," says Dr Alberto Chiesi, president of the Chiesi Group. "We are impressed by A. M. Pappas & Associates' life science and venture expertise and the specific commitment that the firm has made to the area of rare diseases and, therefore, have selected them to help us manage our fund. Further, the launch of a venture fund specifically focused on rare diseases shows our continued commitment to patients afflicted by these diseases and our willingness to expand in the US market."
Chiesi Ventures will leverage A M Pappas & Associates' expertise and network to access and assess deals and opportunities, lead investments and manage transactions.
"This collaboration is a unique opportunity, and this is the first fund of its kind in the US," says Art Pappas, CEO of A M Pappas & Associates. "It puts our two companies at the centre of early-stage rare disease opportunities."
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