Biotech is becoming an increasingly popular investment choice. The coronavirus pandemic has actually created more potential in this field. Mozes Victor Konig – a businessman who has made substantial investments in the industry – has seen a significant uptake in the field himself. He explained:
“What you have to realize is that this industry really needs the capital because invariably such biotechnological firms require a lot of money to even be able to consider approaching the FDA for approval.”
Konig – who had some trouble with Interpol some years ago which he has now put behind him – particularly likes this industry as he describes it as “exciting, innovative and really helpful to potentially thousands of people.”
In Italy we are now witnessing a boom with biotech too. One example of this is the recent announcement from Sofinnova Partners (life sciences Paris-based VC firm) of its upcoming investments in three startups via its Sofinnova Telethon Fund (Italy’s largest fund solely dedicated to biotechnology). These companies are: AAVantgarde Bio, Alia Therapeutics and Borea Therapeutics all of which are in the process of creating therapies that could really help with rare genetic diseases.
These three seed investments total €6M and are in line with Sofinnova Telethon Fund’s strategy of working with cutting edge Italian scientists and successful entrepreneurs in an effort to create high-end companies in the genetic disease section of biotechnology.
Potential investors, says Konig: don’t bypass the biotech industry; it’s a great way forward for many reasons.