Amgen, a Global Biotechnology Leader, Invests in eHealth Ventures, an Israeli Digital Health Incubator
The eHealth Ventures incubator, which recently won the tender by the Israeli Innovation Authority to operate a technological incubator focused on digital health, announced the addition of Amgen Ventures, a subsidiary of Amgen Inc., as a strategic partner and as an active investor in the incubator.
Amgen is the largest independent biotechnology company in the world. The company was founded in 1980 and focuses on the development of genetic and biological therapeutics in a variety of areas (oncology, hematology, cardiovascular, neurology and others). The company is traded on NASDAQ (AMGN) at a market cap of approx. $ 120 B, 2014 revenues were over $ 20 B and the R&D expenditure was over $ 4 B.
Amgen joins a team of strategic partners including Maccabi Initiatives (a subsidiary of Maccabi Health Services), Cleveland Clinic (a leading medical center ranked second in the US and a leader in commercialization of research), SCI – a Chinese Venture Capital Fund, Medison Pharma – a leading pharmaceutical distribution company in Israel, as well as private investors.
According to Corinne Le Goff, SVP Amgen Europe, this investment reflects the company’s deep commitment to innovation which advances modern medicine and the recognition of Israel as a global center for such innovation. Ms. Le Goff added that the partnership with eHealth Ventures has a good fit to the company’s strategy and will assist in expanding its product line in the field of digital health, for the benefit of patients worldwide.
Talor Sachs, CEO of the eHealth Ventures Incubator, commented: “We are proud to have Amgen, a global life sciences leader, join the unique partnership we have built with Maccabi Initiatives, the Cleveland Clinic, SCI and Medison Pharma. The unique assets and capabilities of a partner on this scale will be reflected already at the stage of screening and testing new projects, via providing relevant information on target markets, product development, commercialization and marketing strategies, building value for portfolio companies, all the way to assisting in marketing efforts, including potential follow-on investments in companies which graduate from the incubator. We are grateful to the executives of Medison Pharma, representing Amgen in Israel, for assisting in the execution of the transaction. ”
Sachs added: “Now, even more than before, we are a leader in the area of early stage investments in the digital health field. The unique partnership structure, our proprietary selection process and the added value of each member of the consortium are all significant assets applied to the growth of the portfolio companies and the commercialization of the products they are developing – under optimal conditions and aggressive timelines. I call upon the innovative entrepreneurs and the “game-changing” companies in this field to contact us and embark on a journey of value-building and success. ”
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