The VC firm, Access BridgeGap, will back three to five early-stage therapeutics companies per year.
Len Blavatnik, head of US-based conglomerate Access industries, has committed $75m to a new venture capital (VC) firm looking for deals in US academic laboratories.
The VC firm, Access BridgeGap, will back three to five early-stage therapeutics companies per year.
Blavatnik said: "Access BridgeGap is an important part of Access’ growing interest in life sciences and, specifically, therapeutics.
"Access BridgeGap will pursue the commercialization of academic and entrepreneurial innovations that possess the potential to make a major impact on disease treatment and prevention."
Daniel Behr (pictured), who previously worked at Harvard University’s Office of Technology Development and university spin-out investment firm Allied Minds, is head of the new VC firm, Access BridgeGap Ventures.
Behr, who set up BridgeGap in July, said: "With Access’ support we have the resources and flexibility to span all investment stages and build fully independent companies, either alone or with other investors."
Ben Bronstein, former chief executive (CEO) at Neuron Systems, is the other partner at BridgeGap, with Jess Barnes, director of new ventures having previously been senior science officer at Summer Street Research Partners.
Advisers to Access BridgeGap include William Koster, former senior vice-president for worldwide drug discovery research and early clinical development at Bristol Myers Squibb; Manuel Navia, former founder and CEO of Althexis; and Isaac Kohlberg, chief technology development officer at Harvard University.
[Editor’s note: This article is repurposed from the sister website, Global University Venturing.]
