Senior Associate Director,
Ridgefield, Conn., (December 2, 2013): Boehringer Ingelheim today announced that the Boehringer Ingelheim Venture Fund GmbH (BIVF) has opened a U.S. office in the premier biotech hub of Kendall Square in Cambridge, Mass. BIVF is a private equity fund created to invest in biotech and start-up companies which provide ground-breaking therapeutic approaches and technologies to help drive innovation in medical science.
The U.S. office will be led by Martin Heidecker, who will operate from Cambridge as well as Boehringer Ingelheim’s Fremont, California site, located in the heart of the San Francisco Bay Area biotech cluster. BIVF will invest up to approximately $13 million dollars per company, with a total fund volume of $130 million dollars.
“What makes BIVF unique is that we can help establish companies from the beginning, which can foster a conducive environment for innovation and enable greater success. Our U.S. presence means more opportunities for break-through biomedical initiatives, and we are looking forward to uncovering top talent in this exciting and entrepreneurial U.S. market,” said Heidecker.
BIVF will provide added-value expertise beyond capital investment, leveraging Boehringer Ingelheim’s extensive drug discovery, scientific and managerial proficiency. The team will specifically seek out investment opportunities unrelated to Boehringer Ingelheim’s key therapeutic areas. BIVF’s ultimate goal is to enhance those companies invested in, delivering success for them and generating revenues to finance further new investment to benefit patients.
About Boehringer Ingelheim
The Boehringer Ingelheim group is one of the world’s 20 leading pharmaceutical companies. Headquartered in Ingelheim, Germany, it operates globally with 140 affiliates and more than 46,000 employees. Since it was founded in 1885, the family-owned company has been committed to researching, developing, manufacturing and marketing novel medications of high therapeutic value for human and veterinary medicine.
Social responsibility is a central element of Boehringer Ingelheim's culture. Involvement in social projects, caring for employees and their families, and providing equal opportunities for all employees form the foundation of the global operations. Mutual cooperation and respect, as well as environmental protection and sustainability are intrinsic factors in all of Boehringer Ingelheim’s endeavors.
In 2012, Boehringer Ingelheim achieved net sales of about $19.1 billion (14.7 billion euro). R&D expenditure in the business area Prescription Medicines corresponds to 22.5% of its net sales.
For more information please visit www.us.boehringer-ingelheim.com.