NEW YORK, Oct. 2, 2020 /PRNewswire/ -- New Ventures Funds has launched a new corporate brand identity and changed its name to Scientia Ventures. The new website for the firm can be found at: www.scientiavc.com. This reflects the broadening of the firm's strategic direction since launching its 3rd fund in 2017 to reflect its focus on transformational science and technology in healthcare. The announcement follows two recent successful IPO's of portfolio companies: ADC Therapeutics (NYSE: ADCT) and Royalty Pharma (NASDAQ: RPRX); and successful Phase 3 clinical trials for two of its portfolio companies: FibroGen (NASDAQ: FGEN) and Intra-Cellular Therapies (NASDAQ: ITCI).
Harry Glorikian, Partner, who leads the firm's work in digital systems explained: "We track and invest in the evolution of life sciences and healthcare systems. We are empowered by a combination of advances in the areas of information technology and biological data as applied to diagnostics and therapeutics. This is where we see the biggest impact for our investors and for the medical field. The name Scientia Ventures highlights our investment at what we believe is a major inflection point in these areas: the opportunity for industrialization of the technology and building successful companies." Harry Glorikian added: "If the difference between evolution and revolution is the speed of change, then healthcare now is in the mode of revolutionary change. This is creating unique opportunities in healthcare and the life sciences."
"We are encouraged by the tremendous mindset shift that is going on as Big Pharma, biotech and healthcare startups all look at themselves not as biotech or healthcare but as data science companies. It is an exciting time for venture capital to make a difference," said Rory Riggs, a Founding Partner.
"We believe this shift has the potential to revolutionize the drug development process, by reducing uncertainty, while generating unique intellectual property and allowing companies to bring breakthrough therapies to market more rapidly. Importantly, these therapies help patients get effective care and simultaneously drive down industry-wide costs," said Richard Warburg, Partner and leader of the firm's work on drug development.
Commenting on the announcement, Jonathan Finn, CFA, a Founding Partner said, "This name change shows the strategic evolution of our firm. We continue to invest in transformative healthcare concepts and business models. Our strategy has evolved to parallel the change in technology."
About Scientia Ventures
Scientia Ventures invests in early to mid-stage technology companies that target computational biology and chemistry, the digitization of medicine, and digital therapies as well as traditional drug development companies at the cutting edge of the life sciences. Our strength is working with entrepreneurs and big ideas to build companies with the potential to transform healthcare. Our Partners, many of whom are former founders, operators, or CEO's of important healthcare companies, have a long history of working together and have domain expertise across healthcare, finance, and intellectual property.
One Liberty Plaza
New York, NY 10006
This is not an offer to purchase or sell, nor a solicitation of an offer to purchase or sell an interest in The Fund or any other financial instrument. Any offering or solicitation will be made only to qualified prospective investors pursuant to the offering memorandum, and the subscription documents, all of which should be read in their entirety.
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SOURCE Scientia Ventures