FutuRx Begins Operations in Israel

January 13, 2014

New biotech incubator to advance biotechnology products in Israel

NESS ZIONA, Israel, January 13, 2014 /PRNewswire/ –

FutuRx Incubator*, which has been granted a licence by Israel’s Ministry of Economy to
establish a biotech Incubator in Israel, began operations on January 1st, 2014 at the
Weizmann Science Park in Ness Ziona. Thirty to forty start-up companies are planned to be
established during the next eight years. FutuRx was incorporated jointly by OrbiMed Israel
Partners, Johnson & Johnson Innovation and Johnson & Johnson Development Corporation
(JJDC), and Takeda Pharmaceutical Company through its corporate venture arm Takeda
Ventures, Inc.

http://photos.prnewswire.com/prnh/20140113/663328 )

At FutuRx, Johnson & Johnson Innovation, Takeda Ventures Inc. and OrbiMed teamed with
the Office of the Chief Scientist of the Ministry of Economy in a national initiative
dedicated to transforming breakthrough discoveries into novel medicines by applying a
unique structure of equally balanced partnership among its three founding organizations.
FutuRx envisions its role to be the catalyst for drug development by bridging the gap
between concept and proof-of-concept through its dedicated system and unique structure.
FutuRx management, together with its founders, will establish and fully support the
companies through its dedicated laboratory and management facility.

FutuRx will be managed by an independent management team led by its CEO, Dr. Einat
Zisman who together with Chief Technology Officer, Dr. Ronald Ellis and Chief Business
Officer, Dr. Eli Frydman, will select the product candidates and technologies.

“The depth of Israeli science, combined with the capabilities of FutuRx’ international
partners and its experienced management team and advisory board, will enable promising,
disruptive new science to surface, and be developed into new medicines with the oversight
of Pharma and VC stakeholders from inception. We encourage entrepreneurs, researchers,
academic institutions and startup companies to explore FutuRx as an ideal home for their
technologies”, commented Dr. Zisman.

Avi Hasson, the Chief Scientist of the Ministry of Economy of the State of Israel
commented, “I congratulate Takeda Pharmaceutical Company, Johnson & Johnson and OrbiMed on
winning the biotechnology incubator tender, and I am looking forward to a productive and
fruitful relationship. The new biotechnology incubator is an important component of the
Israeli government strategy, and we welcome the opportunity to collaborate with the
industry to strengthen and promote the biotech industry in Israel”.

*Formerly BioBoost

About FutuRx

FutuRx is the Israeli biotechnology accelerator that that was established in 2014 by
OrbiMed Israel Partners, Johnson & Johnson Innovation and Johnson & Johnson Development
Corporation (JJDC) and Takeda Ventures Inc. following winning the tender of the Office of
the Chief Scientist (OCS), Ministry of Economy, in Israel. The incubator has space for at
least 10 companies at a time and will advance new biotechnology products by identifying
and nurturing early-stage life science innovation. FutuRx is located in the Weizmann
Science Park in Ness Ziona (near the Weizmann Institute), Israel.


        Ido Atiya
        Global Image Communications

        Sigal Arad
        FutuRx Ltd.




Source: PR Newswire

comments powered by Disqus