|By PR Newswire||
|September 2, 2014 07:00 AM EDT||
PARMA, Italy and RESEARCH TRIANGLE PARK, North Carolina, September 2, 2014 /PRNewswire/ --
The Chiesi Group announced today the launch of its venture capital fund, Chiesi Ventures, via a strategic 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 organizations and entrepreneurial companies developing treatments for rare diseases.
Chiesi Ventures will have offices in Boston, MA, Research Triangle Park, NC 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," said 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 United States," said Art Pappas, CEO of A. M. Pappas & Associates. "It puts our two companies at the center of early-stage rare disease opportunities."
"We're excited about the opportunity to work with Chiesi to achieve their operational and strategic objectives," said Pappas.
A. M. Pappas & Associates is dedicated to the development of life science companies, products, technologies, and other entrepreneurial opportunities, and is known for its experience and expertise in making rare disease and targeted therapeutic investments. Through its Pappas Ventures business unit, A. M. Pappas & Associates has worked with such companies as Plexxikon (acquired by Daiichi Sankyo), Ultragenyx Pharmaceutical (IPO), Lumena Pharmaceuticals (acquired by Shire), LEAD Therapeutics (acquired by BioMarin Pharmaceutical), and Balance Therapeutics.
About Chiesi Ventures
Chiesi Ventures is a United States-based early stage venture capital firm focused on rare and orphan indications. Chiesi Ventures complements 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 organizations and entrepreneurial companies developing treatments for rare diseases. For more information, please visit http://www.chiesiventures.com.
About The Chiesi Group
The Chiesi Group is a research-focused international group, with nearly 80 years of experience, headquartered in Parma (Italy). Chiesi researches, develops and commercializes innovative pharmaceutical solutions in the respiratory therapeutics and specialist medicine areas. In 2013, Chiesi achieved sales of over 1.2 billion Euros, constituting double digit growth over 2012. Its R&D centers in Parma (Italy), Paris (France), Rockville (USA), Chippenham (UK) and the R&D team of the newly-acquired Danish company Zymenex, integrate their efforts to advance Chiesi's pre-clinical, clinical and registration programs. The Chiesi Group employs approximately 3,900 people, 480 of which are dedicated to R&D activities. For more information, please visit http://www.chiesi.com.
About A. M. Pappas & Associates
Established in 1994, A. M. Pappas & Associates is dedicated to the development of life science companies, products, technologies, and other significant entrepreneurial opportunities. In addition to its new specialized fund management arm, which will oversee the Chiesi relationship, the company manages Pappas Ventures, a family of life science venture funds, and is developing university-focused translational medicine initiatives. A. M. Pappas & Associates has $350 million in capital under management. For more information, please visit http://www.ampappas.com.
SOURCE Chiesi Group, Chiesi Ventures, A.M. Pappas & Associates