Spinnovator-a German public startup engine
Technology transfer organization Ascenion GmbH and early stage VC firm Vesalius Biocapital aim to bridge the translational gap in Germany with Spinnovator, a joint initiative that will spend up to €40 million ($58.5 million) to spin out technologies from publicly funded institutes in Germany into as many as 10 startup companies over the next 5 years.
"German life science research is producing many new approaches for the diagnosis, treatment and management of serious diseases, but so far a great deal of that research's potential has remained untapped because the institutions lack the finances or experience to develop early stage technologies through to preclinical proof of concept," said Christian Stein, CEO of Ascenion, which represents 25 nonuniversity institutions in Germany...