The biotech producer will invest in and incubate external projects through New Ventures, as Chelsea Johnson joins from Atlas Venture to lead the unit.
US biotech company Biogen has formally launched a corporate venture capital arm that will invest in life sciences startups.
The Biogen New Ventures team will work alongside Biogen’s research and development team to source external startups as well as incubating outside projects with a view to potentially bringing them into the company later on.
New Ventures is being headed by Chelsea Johnson (pictured), formerly a principal at Atlas Venture. She spent six years at Atlas having previously been an associate at another biotech-focused venture capital firm, Third Rock Ventures. Biogen has been setting up the New Ventures team for the past several months but Johnson’s arrival marks its official launch.
“New Ventures isn’t a traditional venture fund,” Johnson (left) said in a LinkedIn post. “It’s an important way we’re working to build Biogen’s early-stage pipeline by investing in emerging research and cutting-edge science.
“I’m here to establish this effort, build connections between Biogen and the venture community and cultivate a new set of exciting pipeline opportunities for the company.”
Although the unit is new, Biogen has made several CVC investments over the years, most recently contributing to a $100m series C round for Autobahn Therapeutics, which is developing restorative treatments for neuropsychiatric and neuroimmunologic disorders, in mid-2024.
