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Bridge Biotherapeutics Inc., a clinical-stage biotech company headquartered in Seongnam, Republic of Korea and BaseLaunch, the Basel Area-based biotech venture accelerator and incubator, have announced that Bridge Biotherapeutics has become a partner in BaseLaunch Phase II. This is the first Asia Pacific company to partner with BaseLaunch, and the first collaboration of this kind for Bridge Biotherapeutics, expanding BaseLaunch's partner diversity to pharma, venture funds and biotechnology companies.
Bridge Biotherapeutics joins Roche, BB Pureos Bioventures and Roivant Sciences in supporting BaseLaunch's endeavor to fuel the next generation of exceptional biotech companies, with additional partners being announced over the coming weeks and months. Building on the success of its first phase, BaseLaunch Phase II is increasing the funding per venture to a maximum of USD 0.5 million (versus USD 0.25 million previously) and continues to be the premier partner of choice for scientists and entrepreneurs that want to build potentially life-saving biotech ventures.
Bridge Biotherapeutics is engaged in the early development of novel therapeutics, focusing on therapeutic areas with high-unmet needs, such as ulcerative colitis, fibrotic diseases and cancers. Based in the Republic of Korea, US and China, its lead candidate for the treatment of ulcerative colitis is currently in Phase II clinical trials in the US. The company also plans to initiate Phase I/II studies of BBT-176, a novel targeted therapy for NSCLC (non-small cell lung cancer) inhibiting C797S mutations, first in the Republic of Korea and then in the US. BBT-877, the drug candidate for IPF (idiopathic pulmonary fibrosis) treatment was licensed out to Boehringer Ingelheim in July 2019. The company aims to explore further alliances and investment opportunities in the early stage life sciences and therapeutic ventures.
BaseLaunch serves as an accelerator and incubator for early stage ventures developing cutting-edge therapeutics. BaseLaunch helps build companies from inception through to Series A funding, providing financing and supporting all aspects of business development. During its first phase (2017-2019), BaseLaunch was supported by Roche, Novartis Venture Fund, Johnson & Johnson, Pfizer and Roivant Sciences. Having entered its second phase, BaseLaunch is gearing up with new commitments, which will be announced soon, harnessing the Basel Area's unique position as a global life sciences hub, as well as its rising popularity among investors, to attract the next generation of breakthrough companies. BaseLaunch Phase II is now open for applications. Interested groups can find information at www.baselaunch.ch/apply/.
