NEW YORK and CAMBRIDGE, Mass., Dec. 19, 2011 /PRNewswire/ -- Access Industries announced today the establishment of Access BridgeGap Ventures, a new life sciences venture investment initiative to fund early-stage companies in the therapeutics space. Leveraging its team's experience in startup creation, technology commercialization and venture investing, Access BridgeGap will fund early-stage startups and also create de-novo spinoffs around potential high-impact technologies, many of which are still in academic labs. Funding activities will focus on scientists, entrepreneurs, and companies that are developing novel and clinically relevant therapeutic approaches and platforms that can become must-have solutions for patients, physicians, and payers. The group is led by Daniel Behr, MBA, and Ben Bronstein, MD, both recognized serial entrepreneurs and technology developers.
According to Daniel Behr, Founder and Senior Vice President, "With Access' support we have the resources and flexibility to span all investment stages and build fully independent companies, either alone or with other investors. Access BridgeGap expects to fund 3-5 companies per year and to deploy $75M over the first few years."
"Access BridgeGap is capitalizing on a major opportunity," said Ben Bronstein, co-Founder and Senior Vice President. "Commercially promising innovations being developed in research institutions and in young startups are often deemed too early for partnering by industry or for investment by traditional venture capital. Our focus is to translate early-stage science into commercially relevant products and companies."
|SOURCE Access Industries|
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