Bayer Launches Co.Lab AdVenture to Boost Biotech Innovation

Bayer has unveiled a new offering called Bayer Co.Lab AdVenture, which is a part of its global life sciences incubator network that is aimed at connecting biotechnology startups with top venture capital firms all over the world. The purpose of the initiative is to facilitate getting global funds quicker, provide the companies with the needed investment expertise, and later stage facilitates the progress of transformative healthcare solutions.

The launch is also the first anniversary of Bayer Co.Lab Shanghai, which saw the arrival of two new biotech startups OTR Therapeutics and Nutshell Therapeutics into its community. The two companies have been involved in research that is in line with Bayer's strategic priorities which indicates that tackling critical unmet medical needs through next-generation therapies, is the common ground for both.

“Pharmaceutical innovation, indeed, depends heavily on collaboration,” said Juergen Eckhardt, M.D., Head of Business Development and Licensing at Bayer’s Pharmaceuticals Division. “Bayer Co.Lab AdVenture takes us a step further by linking the best venture capital firms with biotech start-ups to better enable them to get global funding and other required resources for their ventures and health solutions.”

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The first members on the platform consist of Shanghai Industrial Investment Capital (SIIC), Legend Capital, IDG Capital and Bayland Capital with each of them bringing in expertise and knowledge about local markets. This partnership will provide Bayer's resident startups with strategic guidance and take them to meet global investors that have been pre-selected for them.

The launch represents Bayer’s commitment to its open innovation strategy, which involves supporting the establishment of the biotech ecosystems in regions with high growth potential, for example, China, and simultaneously securing international partnerships that are key in accelerating progress in the life sciences industry.