Tuesday, February 06, 2018
AbbVie, a global biopharmaceutical company, and MBC BioLabs, a life-science incubator, announced that they have teamed up to help support and mentor promising startups. The partnership provides AbbVie multiple ways to access and support companies in the MBC BioLabs community – including allocating "Golden Tickets", which offer entrepreneurial scientists one year's use of a lab bench and core facilities at MBC BioLabs' San Francisco or San Carlos site.
MBC BioLabs and AbbVie have a successful track record of collaboration. AbbVie Ventures, the private investing arm of AbbVie, has invested in startups from MBC BioLabs' ecosystem, including Alector and eFFECTOR. Investing since 2009, AbbVie Ventures focuses exclusively on novel, transformational therapeutics at discovery and pre-clinical stages across oncology, immunology and neuroscience.
"AbbVie is focused on developing medical treatments that address some of the most complex health challenges across immunology, oncology and neuroscience," said Tom Hudson, M.D., vice president, oncology discovery and early development and head, research and development, Redwood City, AbbVie. "AbbVie and AbbVie Ventures seek tomorrow's innovators and the Bay Area is a primary center of scientific talent. Partnering our broad local resources, including more than 1,000 researchers and active venture investing, with MBC BioLabs' proven capabilities to identify and nurture promising innovation, will help turn today's science into tomorrow's therapies."
"MBC BioLabs' innovative approach radically lowers the cost and time required to launch a biotech startup, allowing entrepreneurial scientists to turn their ideas into tomorrow's scientific breakthroughs," said MBC BioLab's General Manager, Doug Crawford. "An important part of our contribution to their success is to build a rich community of entrepreneurs, investors, and strategic partners. We want to narrow the gap between the biggest and smallest life-science companies. We are thrilled to have AbbVie join this mission."
