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Lonza and Israel Biotech Fund form a two-year agreement to support accelerated development and manufacture of biologics and small molecules.
On May 24, 2022, Lonza and Israel Biotech Fund (IBF), a venture fund investing in Israeli and Israeli-related biotech companies, announced that they have entered into a framework agreement. Under the agreement, Lonza will provide pre-investment due diligence support to IBF and offer IBF's portfolio companies tailored advice as well as flexibility and services for the development and manufacturing of biologics and small molecules. In return, IBF will provide Lonza with access to its portfolio companies and broad network in the Israeli biotech industry.
The two-year agreement aims to broaden the scope of services provided by Lonza to pharmaceutical companies in the Israeli ecosystem. It also gives Lonza an opportunity to support the unique needs of Israeli pharmaceutical companies looking to simplify and de-risk the development of their molecules.
Israel had more than 1750 life science companies active at the end of 2020, many of which were start-ups and small biotech companies. IBF, started in 2015, is dedicated to investing in and developing the biotech industry in Israel and has played a key role in the Israeli Biotech ecosystem. The organization has exposure to and familiarity with the market and key players in the Israeli pharma industry as well as most biotech companies and projects.
As part of the collaboration, Lonza will advise IBF in its due diligence review of candidate biotech targets and provide a tailored offering, advice, and services to IBF's portfolio companies that are targeting innovations in the healthcare sector and that are focused on developing therapeutic assets and disruptive platforms.
"We chose to collaborate with IBF, a leading investment fund in Israel, due to their unique investment strategy, broad network, and approach. We are excited to implement this framework agreement that will provide IBF and their portfolio companies with services and expertise across multiple modalities,” said Pnina Weitz, global head of Venture Capital Business Development and Relationship Management, Lonza, in a company press release. “IBF’s network will allow Lonza to benefit from these connections and offer services and expertise across multiple modalities. Lonza's customized and scalable solutions in the development and manufacture of both biologics and small molecules will allow these companies to leverage our global network and experience and focus on what they do best—developing innovative and transformative treatments."
"Lonza is a leading and reputative global manufacturer, and we are excited to collaborate with them. The unique business model offered by the collaboration agreement will provide Lonza with broad access to the Israeli market and allow our portfolio companies to leverage Lonza's expertise and innovative business models. Such companies will benefit from a streamlined development and manufacturing process, allowing them to focus on research and development and pre-clinical studies," said Ido Zairi, co-founder and managing partner, IBF, in the press release.