Bridge Biotherapeutics becomes partner of BaseLaunch biotech incubator

By Nam Hyun-woo

Bridge Biotherapeutics CEO Lee Jung-kue / Korea Times photo by Choi Won-suk

Bridge Biotherapeutics said it has become the first Asia-Pacific partner in the biotech venture incubator BaseLaunch, expanding its opportunities to explore budding European therapeutic ventures and sign partnerships with them.

Bridge Biotherapeutics joins Roche, BB Pureos Bioventures and Roivant Sciences in supporting BaseLaunch's efforts to foster promising biotech companies.

BaseLaunch is an incubator program for early-stage healthcare ventures, helping them to build companies from inception through Series A funding, which refers to a funding round coming after a company establishes a track record.

During 2018 and 2019, BaseLaunch supported nine early therapeutic ventures which have collectively raised more than $100 million in equity capital from U.S. and European venture funds. The program is operated by Basel Area Business & Innovation, the investment and innovation promotion agency of the Basel area in Switzerland.

“In joining BaseLaunch, our team is very excited to explore new opportunities of discovering promising therapeutic ventures and supporting exceptional seed-stage biotech companies developing sciences into novel therapeutics,” Bridge Biotherapeutics CEO Lee Jung-kue said.

Bridge Biotherapeutics will be a partner company of BaseLaunch Phase II. During the first phase from 2017 to 2019, BaseLaunch was supported by Roche, Novartis Venture Fund, Johnson & Johnson, Pfizer and Roivant Sciences.

Bridge Biotherapeutics is a clinical stage biotech firm engaged in the discovery and development of novel therapeutics, focusing on areas with high-unmet needs, such as ulcerative colitis, fibrotic diseases and cancer.

The company garnered attention last year after signing a 1.5 trillion won license-out deal with Boehringer Ingelheim over BBT-877, a treatment for lung diseases. Also, its BBT-401, a treatment for ulcerative colitis, is currently undergoing a Phase 2 trial in the U.S.