Durham-based venture capital firm A.M. Pappas & Associates will manage a new venture capital fund being launched by Italy-based Chiesi Ventures, the companies announced Tuesday.
The investment fund will be focused on early-stage deals in treatments for rare diseases.
Chiesi Ventures will maintain an office in the Triangle as well as Boston and in parent firm’s home city of Parma, Italy.
“This collaboration is a unique opportunity, and this is the first fund of its kind in the United States,” said Art Pappas, founder and chief executive officer of Pappas. “It puts our two companies at the center of early-stage rare disease opportunities.”
The Details
The full announcement follows:
PARMA, ITALY and RESEARCH TRIANGLE PARK, N.C., Sep 2, 2014 — The Chiesi Group announced today the launch of its venture capital fund, Chiesi Ventures, via a
strategic collaboration with A. M. Pappas & Associates.
Chiesi Ventures will complement the strategic interest of the Chiesi Group in the area of rare diseases by investing in early stage opportunities and expanding the Chiesi network in the US among universities, venture capital investors, rare disease patient organizations and entrepreneurial companies developing treatments for rare diseases.
Chiesi Ventures will have offices in Boston, MA, Research Triangle Park, NC and Parma, Italy and will focus on investment opportunities in the US and Europe. It will operate as an
independent investment vehicle while maintaining a strategic connection with the Chiesi Group.
“We have taken a strategic approach in launching our fund and decided to work with an established venture fund with proven experience and a solid investment track record in building
companies that are developing therapies for orphan and rare diseases,” said Dr. Alberto Chiesi, President of the Chiesi Group. “We are impressed by A. M. Pappas & Associates’ life science and venture expertise and the specific commitment that the firm has made to the area of rare diseases and, therefore, have selected them to help us manage our fund. Further, the launch of a venture fund specifically focused on rare diseases shows our continued commitment to patients afflicted by these diseases and our willingness to expand in the US market.”
Chiesi Ventures will leverage A. M. Pappas & Associates’ expertise and network to access and assess deals and opportunities, lead investments and manage transactions.
“This collaboration is a unique opportunity, and this is the first fund of its kind in the United States,” said Art Pappas, CEO of A. M. Pappas & Associates. “It puts our two companies at the center of early-stage rare disease opportunities.”
“We’re excited about the opportunity to work with Chiesi to achieve their operational and strategic objectives,” said Pappas.
A. M. Pappas & Associates is dedicated to the development of life science companies, products, technologies, and other entrepreneurial opportunities, and is known for its experience
and expertise in making rare disease and targeted therapeutic investments. Through its Pappas Ventures business unit, A. M. Pappas & Associates has worked with such companies as Plexxikon (acquired by Daiichi Sankyo), Ultragenyx Pharmaceutical (IPO), Lumena
