My watch list
my.bionity.com  
Login  

Investment Plan for Europe: Successful launch of Tech Transfer Fund “KHAN-I”

13-Sep-2019

Khanu Management GmbH (Khanu), a drug discovery focused fund management team, announces the successful launch of KHAN Technology Transfer Fund I GmbH & Co KG (KHAN-I), based in Dortmund, Germany.

The European Investment Fund (EIF, Luxemburg), the Austria Wirtschaftsservice GmbH (Vienna, Austria) and the Max Planck Foundation (Munich, Germany) committed in a first closing an investment of a total volume of € 60 million into KHAN-I for a period of 5 plus 2 years in early-stage drug discovery projects. The Khanu fund management team will invest a minority amount.

The EIF will provide up to € 30 million through “InnovFin Equity Facility for Early Stage” (IFE), an integral part of the European growth initiative. The investment is supported by the Juncker Plan’s European Fund for Strategic Investments (EFSI).

Projects are sourced predominantly from academia in Germany and Austria, focussing on innovative therapeutic opportunities in indications with high unmet medical need. KHAN-I will invest into either innovative project ideas covered by collaboration agreements or into start-up vehicles. The Lead Discovery Center GmbH, Dortmund (LDC), a professional drug discovery and translational research incubator originally founded by Max-Planck-Innovation GmbH (MI) will provide its drug discovery services to incubate these novel project hypotheses, where applicable.

To facilitate professional translation in life sciences in Austria, KHAN-I has founded Vienna-based wings4innovation GmbH (w4i) for scouting and executing promising drug discovery projects on behalf of KHAN-I and Khanu. The Partnership is supported by aws with funds provided by the Austrian Federal Ministry for Digital and Economic Affairs and the Austrian Foundation for Research, Technology and Development (NFTE).

KHAN-I also signed a co-investment agreement with the Max Planck Gesellschaft e.V. (MPG), Germany´s largest basic research organisation, adding € 18 million of co-funding for drug discovery projects originating from the world class biomedical research of the Max Planck Institutes.

“With KHAN-I, we have realised a unique and powerful translational vehicle, combining successful players in the field”, summarizes Bert Klebl, one of the three managing directors of Khanu and managing director of LDC. “The line-up of the (co-) investors is both, acknowledgement of the professional and successful performance in the past decade, where we opened a new chapter in the book of German translational research with the inception of LDC by MPG and its collaborative drug discovery and development approach as well as confidence in the game-changing capabilities of this unique translational concept. With KHAN-I, Khanu, LDC and w4i, we want to get to the next level and multiply the commercial successes in early drug discovery in view of a true benefit for all patients out there.”

European Commissioner Carlos Moedas, responsible for Research, Science and Innovation, said: “Today’s agreement adds to the Juncker Plan’s strong track record in supporting biomedical research and drug discovery projects. This kind of support for researchers and scientists to bring their ideas and innovations to market will help keep Europe at the forefront of innovation.”

EIF Chief Executive Pier Luigi Gilibert comments: “KHAN-I will be one of the pioneers to develop the tech transfer segment in the German and Austrian life sciences venture capital ecosystem. Without such funding, these innovations would not reach a maturity level high enough for attracting other investors or strategic acquirers. Our cooperation with KHAN-I and its investment approach is an excellent example for the achievement of EU policies to strengthen the discovery and development of new pharmaceuticals for the benefit of the people in Europe.”

„The life-science-industry plays an essential role within Austria’s economy. Due to the new fund, we create new jobs and support a stronger and successful life-science-sector. As a result, KHAN-I is an inevitable measure to strengthen the international competitiveness of Austria’s life-science-industry”, says Elisabeth Udolf-Strobl, Minister for Digital and Economic Affairs of the Republic of Austria.

“Based on the co-investment agreement between MPG and KHAN I we are able to continue our very fruitful drug discovery partnership with LDC established over more than a decade and hope to generate additional treatment options for patients and return potential for both MPG and KHAN I” adds Ulrich Mahr, Member of the General Management of Max-Planck-Innovation GmbH, the technology transfer office of the MPG.

Facts, background information, dossiers
More about European Investment Fund
  • News

    EIF and K.U.Leuven announce milestone partnership

    The Katholieke Universiteit Leuven (K.U.Leuven) and the European Investment Fund (EIF) have entered a partnership agreement to create a Centre for Drug Design and Discovery ("CD3"). CD3 will build upon research carried out in the biomedical field at the K.U.Leuven in order to discover novel ... more

  • Associations

    European Investment Fund (EIF)

    The EIF's activity is centred upon two areas, venture capital and guarantees: * EIF's venture capital instruments consist of equity investments in venture capital funds and business incubators that support SMEs, particularly those that are early stage and technology-oriented; * EIF ... more

More about LDC Lead Discovery Center
  • News

    UGISense AG secures new financing

    Following the seed financing round in 2016, UGISense AG has again been able to successfully complete a funding round. In addition to all founding investors (experienced business angels in the field of biotechnology and the Lead Discovery Center Dortmund), SeedCapital II KG from Dortmund as ... more

    LDC opens branch in Munich

    The Lead Discovery Center GmbH (LDC) has established a branch - LDC Biologics - in the Munich Biocluster. While the team in Dortmund focuses on chemical compounds (small molecules), in Munich the emphasis will be on the development of therapeutic antibodies. LDC Biologics will produce, opti ... more

    Max Planck Society grants technology for cancer therapy

    Daiichi Sankyo, Max Planck Innovation, and the Lead Discovery Center have signed an agreement providing Daiichi Sankyo with the option to receive the exclusive rights to a new lead compound for the treatment of cancer to be discovered and developed at the Lead Discovery Center. This new par ... more

  • Companies

    Lead Discovery Center GmbH

    The Lead Discovery Center GmbH (LDC) was jointly developed by Max Planck Innovation and the Max Planck Society as a novel approach to advance findings from excellent basic research into the development of novel medicines. With a world-class team of drug discovery experts and seasoned manage ... more

More about Max-Planck-Gesellschaft
  • News

    Diagnostics for everyone

    Microarrays are state-of-the-art tools in molecular biology that enable the rapid and parallel diagnosis of various diseases. Therefore, they are indispensable for the development of new vaccines. Like a computer chip, microarrays contain a lot of information in the smallest space. Microarr ... more

    Cellular aging is linked to structural changes in the brain

    Telomeres are the protective caps of our chromosomes and play a central role in the ageing process. Shorter telomeres are associated with chronic diseases and high stress levels can contribute to their shortening. A new study now shows that if telomeres change in their length, that change i ... more

    Bacteria make pearl chains

    For the first time, scientists in Bremen were able to observe bacteria forming pearl chains that protrude from the cell surface. These pearl chains serve to better absorb and store substances from the environment. Bacteria have no mouth. They eat by absorbing substances from their environm ... more

  • Videos

    Epigenetics - packaging artists in the cell

    Methyl attachments to histone proteins determine the degree of packing of the DNA molecule. They thereby determine whether a gene can be read or not. In this way, environment can influence the traits of an organism over generations. more

    Biomaterials - patent solutions from nature

    Animals and plants can produce amazing materials such as spider webs, wood or bone using only a few raw materials available. How do they achieve this? And what can engineers learn from them? more

    Chaperones - folding helpers in the cell

    Nothing works without the correct form: For most proteins, there are millions of ways in which these molecules, composed of long chains of amino acids, can be folded - but only one way is the right one. Researchers in the department "Cellular Biochemistry" at the Max Planck Institute for Bi ... more

  • Research Institutes

    Max-Planck-Gesellschaft zur Förderung der Wissenschaften e.V.

    The research institutes of the Max Planck Society perform basic research in the interest of the general public in the natural sciences, life sciences, social sciences, and the humanities. In particular, the Max Planck Society takes up new and innovative research areas that German universiti ... more

Your browser is not current. Microsoft Internet Explorer 6.0 does not support some functions on Chemie.DE