São Paulo, August 2023 – Eurofarma, a Brazilian pharmaceutical company with a presence in Latin America and the United States and operations across all market segments, is announcing the creation of a corporate venture capital fund focusing on innovative biotechnology companies. In total, up to $100 million will be invested in startups known as biotechs, which have projects in the initial phase of drug discovery and development.

Eurofarma Ventures, the name given to the corporate fund, was created to be part of the company’s Innovation area, which, with this initiative, is seeking to expand its activities in research, getting closer to startups that have a disruptive approach, on the frontier of science, in drug research. In addition to the fund, the company has a strong presence in Research & Development, Licensing, and Pre-Clinical Development. Investments in the area in 2023 totaled over R$600 million. The company’s innovation front relies on the facilities of Eurolab, the largest pharmaceutical innovation park in Latin America, with 600 researchers who work in a pipeline with over 400 new drug projects, in addition to an organic synthesis laboratory dedicated to the discovery of new molecules.

The Eurofarma Ventures fund is already operating and has invested in three companies so far. In an estimated period of five years, the expectation is that the investments will support up to 25 biotechs, with an emphasis on precision medicine, genetic editing, new targets, and artificial intelligence applied to the discovery of molecules. The investment portfolio includes, for example, Abcuro, a company specializing in the development of pioneering immunotherapies for the treatment of autoimmune diseases and cancer. With the fund, Eurofarma is joining a select group of global biotechnology investors, contributing to the advancement of research and discovery of new drugs and therapies.

“This innovation that we are bringing to the market reflects our innovative DNA, which has helped us build our history over the last 50 years. With Eurofarma Ventures, we wish to be ever closer to radical innovation, supporting companies that are dedicated to disruptive discoveries. This is our journey of innovation, whose main goal is to offer people health solutions that make them live longer and better,” commented Martha Penna, Vice President of Innovation at Eurofarma.

“Eurofarma Ventures has a defined thesis, and we are going to evaluate projects on a number of fronts, such as rare, neurodegenerative, autoimmune, infectious and oncological diseases. We are in search of companies that have a good combination of a robust innovation platform and promising products. We are aligned with the best practices in the world,” said Pavel Herman, director of the fund. “Solutions can arise from therapeutic models in different degrees of maturity, including small molecules, monoclonal antibodies, conjugates, and gene therapies, among others”, he added.

The investment limit for each company and phase will be $5 million. As each project evolves, the company will evaluate new contributions.

To learn more about Eurofarma’s innovation initiatives, please visit eurofarma.com.br/relatorio-anual.

About Eurofarma

Founded in 1972, Eurofarma operates in the health sector, producing and marketing products and services to improve people’s quality of life. With a focus on generating shared value, it covers all the main pharmaceutical segments, such as Prescription, Generics, OTC, Hospital, and Oncology. With a broad coverage of therapeutic classes, its portfolio in the region comprises 2,800 SKUs and serves 42 medical specialties. With a presence in 22 countries, primarily in Latin America, it also maintains operations in the United States and Africa.

With over 11,000 employees, in 2022, it became a publicly-held company registered at the Securities and Exchange Commission of Brazil (CVM). It reported R$8 billion in net revenue, a growth of 13.3% compared to the previous year, with R$2 billion in EBITDA, an increase of 20%. In R&D, investments during the year totaled over R$590 million, equivalent to 7.4% of net revenue.

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G&A Relações Públicas

Luciana Lima – +55 11 98596-9601 – luciana.lima@gaspar.com.br

Sarah Cardoso – +55 11 94821-0883 – sarah.cardoso@gaspar.com.br

Guilherme Gaspar – +55 11 98285-6000 – guilherme@gaspar.com.br