Cdp Venture Capital launches the Extend biopharmaceutical pole

Angelini Ventures, financial and industrial partner of the initiative, will contribute by using the know-how of Angelini Industries to create, support and invest in companies that intend to innovate the traditional paradigms of therapeutic care and patient care by transforming the healthcare ecosystem.

“We are pleased to collaborate in the creation of the Extend Polo together with high-level partners and great experience in the biotech and innovation sectors” he declares Sergio Marullo of Condojanni, CEO of Angelini Industries, continuing: «Participation in the project represents an important opportunity for Angelini Industries to contribute to the development of the Italian innovation ecosystem, of which Extend is a virtuous example. The involvement of Angelini Ventures, whose CEO and managing director Paolo Di Giorgio, expresses our desire to strengthen the bridge between the excellence of Italian academic research and the development of drug discovery programs, to identify new therapeutic options “.

Part of the overall investment of Cdp Venture Capital is also dedicated to supporting the launch of new venture capital funds with a focus on the biopharmaceutical sector, which will also have the task of continuing to finance the most promising startups born in Extend. Chief among these is Indaco Bio Fundthe new fund, launched by Indaco Venture Partners Sgr, which announced the first closing at 95 million euros with a collection target of 150 million, entirely dedicated to biotech and pharma.

Research in Italy

Extend will be an aggregation platform for the main players in biotech research in Italy with high scientific recognition, technical and business incubation partners of proven value, leading companies in the sector and specialized venture capital funds. The ambition is to create an aggregator of skills and investors dedicated to the competitive development of the sector in Italy, promoting access to the market of new drugs and therapies that can help improve people’s lives, reads the launch note of the ‘initiative.

In particular, Extend focuses on therapeutic areas with major unmet medical needs, such as oncology, the central nervous system, rare diseases, using biotechnologies as enabling solutions, such as for example gene and cell therapy, RNA and monoclonal antibodies. The investment plan envisages financing around 50 proof of concepts and 40 startups thanks to Extend’s activity and the contribution of the related vertical funds.