BioMotiv
| |
Industry | Biotechnology |
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Founded | Cleveland, Ohio, 2012 |
Key people | Baiju Shah, CEO |
Subsidiaries |
Allinaire Therapeutics Dual Therapeutics Kodosil Bio Koutif Therapeutics Nynex Therapeutics Optikira Orca Therapeutics SapVax Sujana Inclera |
Website |
www |
BioMotiv is an accelerator company associated with The Harrington Project, a $340 million initiative centered at University Hospitals of Cleveland. BioMotiv's mission is to accelerate breakthrough discoveries into medicines by advancing a portfolio of novel therapeutics in all disease areas and types of therapeutics. The BioMotiv model efficiently aligns capital and collaborations for the benefit of inventors, investors, and ultimately physicians and patients. Therapeutic opportunities are identified through relationships with The Harrington Discovery Institute, university and research institutions, disease foundations, and industry sources. Once opportunities are identified, BioMotiv oversees the development, funding, active management, and partnering of the therapeutic products.
History
The Harrington Project was launched as an effort to bridge varying aspects of the drug development sphere. In response to recent decline in the number of traditional, early-stage biotechnology venture capital firms,[1] BioMotiv utilizes an asset-centric model to in-license, fund, and manage technologies in-house.[2] Its goal is to address the "valley of death" [3] between research, discovery, and early clinical-stage drug development. Projects are advanced by the management team through clinical proof-of-concept and then out-licensed via strategic alliances with pharmaceutical companies.[4]
The company has raised over $146 million to date. Major investors include The Harrington Family, University Hospitals of Cleveland,[5] Takeda Pharmaceutical Company,[6] Biogen,[7] Arix Bioscience[8] and Charles River Laboratories.[9]
Leadership
BioMotiv is managed by an executive team, including:
- Ron Harrington, Chairman of the Board of Managers
- Baiju R. Shah, CEO
- Ted Torphy, PhD, Chief Scientific Officer
- David C. U'Prichard, PhD, Chairman of the Advisory Board
Ron Harrington, BioMotiv's Board of Managers Chairman and The Harrington Project's lead visionary, led Edgepark Medical Supplies and after growing the business successfully, sold the company in 2011 to Goldman Sachs and Clayton, Dubilier & Rice (which renamed the company AssuraMed and sold it again in 2014 to Cardinal Health, Inc.).
BioMotiv attracted Baiju Shah, former CEO of BioEnterprise, a non-profit aimed at boosting Cleveland's healthcare economy,[10] to lead its efforts.[11] Prior to founding BioEnterprise, Baiju worked at McKinsey & Company.[12]
Ted Torphy, PhD, is BioMotiv's Chief Scientific Officer. Prior to BioMotiv, he served as Global Head of External Innovation & Business Models for Discovery Sciences, Vice President and Head of External Research and Early Development, and Corporate Vice President and Head of Johnson & Johnson's Corporate Office of Science & Technology.
David C. U'Prichard, PhD is Chairman of the Advisory Board; he has served on a number of biotechnology boards, as a venture partner at several funds, and was Chairman of Research and Development at SmithKline Beecham.
Subsidiaries
BioMotiv launched its first subsidiary company, Orca Pharmaceuticals, in 2013. Based in Oxford, England, it worked in collaboration with New York University Innovation Venture Fund to develop RAR-related orphan receptor gamma (RORy) inhibitors for treatments of psoriasis, ankylosing spondylitis and inflammatory bowel disease.
Today, BioMotiv's subsidiary portfolio includes ten companies across five indication areas:
Company | Indication | Source Institution |
Allinaire Therapeutics | Cardiology | Indiana University |
Dual Therapeutics | Cancer | Mt. Sinai School of Medicine |
Kodosil | Immunology | BioAtla |
Koutif Therapeutics | Immunology | University of Pittsburgh |
Nynex Therapeutics | Cancer | University of Michigan |
Optikira | Neurology | University of California, San Francisco |
Orca Therapeutics | Immunology | New York University |
SapVax | Cancer | University of Auckland |
Sujana | Cardiovascular | Case Western Reserve University |
Inclera | Various | Indiana University |
Partnerships
A critical aspect of BioMotiv's model highlights the need for collaboration within the drug discovery and development sphere. Its strategic partners include leaders in the drug development and pharmaceutical industries, as well as disease foundations.
In September 2014, BioMotiv entered into its first strategic partnership with Takeda Pharmaceutical Company in the areas of Immunology & Inflammation and Cardio-metabolic Diseases.[22] Today, BioMotiv has four strategic partners:
- Takeda
- Biogen
- Arix Bioscience
- Charles River Laboratories
See also
Further reading
- Crossing Over the Valley of Death. Faster Cures. Faster Cures
- Biotech Funding Gets Harder to Find. Wall Street Journal. Wall Street Journal
References
- ↑ Forbes, Where Is Everyone? Biotech's Dwindling Number of Venture Firms, 2012-07-23 https://www.forbes.com/sites/brucebooth/2012/07/23/where-is-everyone-biotechs-dwindling-number-of-venture-firms/
- ↑ MedCity News, There's a new twist to early stage drug discovery financing: technology without the team, 2012-12-04 http://medcitynews.com/2012/12/theres-a-new-twist-to-early-stage-drug-discovery-financing-its-technology-sans-the-team-video/
- ↑ Tech Transfer Central, Profit/non-profit partners to carry biotech innovations across valley of death, 2012-12-12 http://www.technologytransfertactics.com/content/2012/12/12/profitnon-profit-partners-to-carry-biotech-innovations-across-valley-of-death/
- ↑ MedCity News, The biotech valley of death has become the uncrossable canyon. Here's one innovative approach to funding, 2012-09-21 http://medcitynews.com/2012/09/the-biotech-valley-of-death-has-become-the-uncrossable-canyon-heres-one-innovative-approach-to-funding/
- ↑ Fierce Biotech, BioMotiv garners $46M for early-stage licensing deals, R&D work, 2013-08-05 http://www.fiercebiotech.com/story/biomotiv-garners-46m-early-stage-licensing-deals-rd-work/2013-08-05
- ↑ Fierce Biotech, Takeda pours $25M into biotech dealmaker BioMotiv, 2014-09-26 http://www.fiercebiotech.com/story/takeda-pours-25m-biotech-dealmaker-biomotiv/2014-09-26
- ↑ GEN News, Biogen, BioMotiv Launch Neuroscience Collaboration, 2015-09-21 http://www.genengnews.com/gen-news-highlights/biogen-biomotiv-launch-neuroscience-collaboration/81251753/
- ↑ "BioMotiv partners with London-based Arix Bioscience". Crain's Cleveland Business. Retrieved 2016-04-19.
- ↑ "BioMotiv secures up to $10 million investment from Charles River Laboratories". Crain's Cleveland Business. Retrieved 2016-04-19.
- ↑ The Plain Dealer, Baiju Shah leads a BioEnterprise team helping build Northeast Ohio's biomedical industry, 2009-06-28 http://www.cleveland.com/business/index.ssf/2009/06/baiju_shah_leads_a_bioenterpri.html
- ↑ Crain's Cleveland Business, Longtime BioEnterprise CEO Baiju Shah to leave organization, 2012-07-19 http://www.crainscleveland.com/article/20120719/FREE/120719805
- ↑ Forbes, Profile: Baiju Shah https://www.forbes.com/profile/baiju-shah/
External links
- Official Websites: BioMotiv,The Harrington Project