The Katholieke Universiteit Leuven (K.U. Leuven) and the European Investment Fund (EIF) are putting an additional €16 million (about $20 million) into the Centre for Drug Design and Discovery (CD3), K.U. Leuven’s investment fund and tech-transfer arm. The new capital brings the total investment in CD3 to €24 million (roughly $31 million) since its foundation in 2006.
CD3 acts to help ensure the most promising academic biomedical research achieves its potential by providing the necessary expertise and financial resources to develop new IP to the stage where it can be licensed out to industry or partnered for further development and commercialization. The new funding for CD3 comes just a couple of days after Pfizer nabbed an exclusive license to a family of potential anti-HIV compounds developed at K.U. Leuven with CD3 support.
The additional capital will also allow CD3 to expand its activities to encompass IP developed by other academic organizations and small companies, suggests Paul Van Dun, GM at K.U. Leuven Research & Development. “CD3 has been very successful in bridging the gap between academic innovation research and the needs of the pharmaceutical industry, which culminated in several license agreements, including with leading pharmaceutical companies.”
“The partnership which we have created between the EIF and K.U. Leuven in 2006 has achieved very promising results so far,” concurs Richard Pelly, EIF’s CEO. “We are convinced that stepping up our financial support as well as providing tailored financial engineering solutions will help to further bridge the gap between research and the market.”