We recently analyzed the portfolios and activities of 22 BioPharma CVCs; you can find a short summary below and a link to download the full report here.
Summary of findings
Number of portfolio companies
- Novo Ventures is the CVC with the highest number of investments
- The remaining CVCs can be split into four broad groups, with Google Ventures, J&J Innovation and Pfizer Ventures leading the rest of the pack
Main focus (TAs and technologies)
- Small Molecule-based tech and oncology dominate the interest of CVCs, however note the rapid growth (since 2017) of both Cell & Gene Therapy- and Digital-related (including Dtx) tech being investigated, as well as the increased interest in CV and CNS
CVC portfolio top-level analysis
- There are 21 companies that belong to the portfolios of 3 or more CVCs (“hotlist”): eFFECTOR Therapeutics, Kymera Therapeutics, Alector, Artios Pharma, E-scape Bio, Spero Therapeutics, Second Genome, 28-7 Therapeutics, Caraway Therapeutics, Forendo Pharma, Immunitas Therapeutics, Lodo Therapeutics, Magnolia NeuroSciences, MetaboMed, Mission Therapeutics, Nkarta Therapeutics, Palleon Pharma, Ribometrix, Ribon Therapeutics, Syndesi Therapeutics, VHsquared
- Novo Ventures’ portfolio companies explore the largest number of technologies (followed by Google, J&J and Pfizer), with the CVC also having invested in companies exploring the most diverse set of TAs within the analyzed sample (again followed by Google, J&J and Pfizer)
- Novo, Pfizer, Google and J&J CVCs appear to be the most diversified, with portfolio companies looking into both variable tech approaches as well as therapeutic areas
CVC profile summaries
- AbbVie (AbbVie Ventures): Still heavily focused on SM and drug discovery as well as Onco and CNS; cell and gene therapy as well as new mAb tech, have been capturing AbbVie’s attention recently
- Amgen (Amgen Ventures): Drug discovery tech is of key interest to Amgen, followed closely by cell & gene therapy, new mAbs and new data tech; key TAs of interest are Onco / Haem and CNS
- Astellas (Astellas Ventures): Oncology, CNS and ophthalmology remain key interests for the CVC, whilst it explores SM as well as viral vectors and mAbs; cell & gene therapy is also of increasing interest
- AstraZeneca (MedImmune Ventures): Oncology remains they key focus for the CVC, whilst it explores both SM and mAbs, alongside vaccines and scaffold tech for drug delivery
- Bayer (Leaps by Bayer): Strong shift toward cell & gene therapy by Bayer (who still explores new SM tech), with hopes of applying these types of tech in onco, CNS and other TAs; digital and data tech are also of interest
- Boehringer Ingelheim (BI Venture Fund): Varied CVC portfolio, with strong focus on cell therapies, new mAbs, drug discovery and other novel tech; oncology and CV remain key interests for BI, which also explores several other TAs
- Eli Lilly (Lilly Ventures): CVC focuses on SM, drug development and protein-based drugs with main interests in oncology, inflammation a broad number of other TAs
- EMD Serono (M Ventures): Strong focus on SM but also on drug development, followed closely by ventures into digital (including sensor tech); onco, CNS and several other TAs are being targeted by the CVC’s portfolio companies
- Google (Google Ventures): CVC continues to build its presence in the healthcare space by focusing on SM, digital / data and drug development; CVC portfolio companies explore a wide array of TAs, including onco and CNS
- GSK (SR One): SM tech and drug development are the main focus of the CVC companies, with increasing interest in cell & gene therapy; onco, infectious diseases, CNS and inflammation are among the key TAs being explored
- J&J (J&J Innovation – JJDC): Widely diversified CVC portfolio exploring SM-, digital (including digital therapeutics), medical device- and microbiome-related tech; oncology is key focus for J&J, followed by CNS and several other TAs
- Leo Pharma (Leo Innovation Lab Ventures): Digital (including digital therapeutics and data) is the key focus for the CVC; dermatology and CNS are still key TAs for Leo Pharma, who also explores several others, including oncology
- Lundbeck (Lundbeckfonden): CNS, IDs and rare diseases remain key TAs for the CVC; SM and protein-based therapeutics are also being looked at, with increasing interest shown to other tech approaches (including cell & gene therapy)
- Merck (MRL Ventures Fund): CVC explores general drug development and mAb-based therapeutics, whilst also looking into DNA/RNA-based approaches; onco / haem and CNS are key TAs, alongside infectious and rare diseases
- Mitsubishi Tanabe (MP Healthcare Venture Management): Low activity by the CVC, with main focus on SM, digital and drug development, across several TAs
- Novo Nordisk (Novo Ventures): Well-diversified CVC, focusing on SM, drug development and protein-based therapeutics; oncology, ID and several other TAs receive attention by the CVC which maintains its strong focus on CVMD
- Novartis (Novartis Venture Fund): CVC has been diversifying outside of the SM space, also looking into cell & gene therapy and protein-based therapeutics; oncology and immunology-related TAs receive increased interest
- Pfizer (Pfizer Ventures): Diversified CVC, maintaining focus on SM development but also including general drug development and diagnostics in its tech interests; onco, CNS and several other TAs are of key interest
- Roche (Roche Venture Fund): Roche’s CVC still focuses on SM development alongside diagnostics, microbiome, mAbs and data tech; CVC continues to be interested in several TAs, with primary focus in oncology and metabolic disease
- Sanofi (Sanofi Ventures): CVC explores SM and general drug development tech and has a strong interest in digital (including digital therapeutics and data); key TAs are metabolic diseases, CNS, oncology and blood and muscle disorders
- Takeda (Takeda Ventures): CVC continues to explore SM and Ab-related tech and general drug development; key TAs of interest are onco, GI and several others, including fibrosis, liver and skin disease and inflammation-driven disorders
- UCB (UCB Ventures): Low activity CVC but with a strong focus on cell & gene therapy, whilst also continuing to look into SM and data-related tech; broad TA interest, covering CNS, muscle, rare diseases, hearing disorders etc.
#strategy #investment #venturecapital #lucidquest
Sources
https://www.ucbventures.com/portfolio.html
https://www.nvfund.com/?id=4&letter=ALL#OurPortfolio
https://www.abbvie.com/partnerships/abbvie-ventures/portfolio.html
https://leaps.bayer.com/companies/
http://mrlv.com/
https://www.pfizer.com/partners/venture-investments/our-portfolio
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http://medimmuneventures.com/portfolio-companies.html
http://www.takedaventures.com/portfolio/
http://www.srone.com/Portfolio.aspx?type=current
https://jnjinnovation.com/jjdc
http://www.lillyventures.com/our-portfolio/our-portfolio.aspx
http://www.mp-healthcare.com
http://www.boehringer-ingelheim-venture.com/portfolio.html
https://www.amgenbd.com/aboutamgen/
http://www.astellasventure.com/Portfolio.aspx
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