SOURCE: BioMotiv

BioMotiv

September 06, 2016 07:05 ET

BioMotiv and Biogen Expand Strategic Partnership Into Ophthalmology

CLEVELAND, OH--(Marketwired - Sep 6, 2016) - BioMotiv, LLC, the therapeutic accelerator company associated with The Harrington Project for Discovery & Development centered at University Hospitals in Cleveland, Ohio, announced today that it has expanded its strategic partnership with Biogen to include the ophthalmology therapeutic area, in addition to its existing neurology partnership. This discovery collaboration will leverage the strengths of both organizations to identify pioneering ophthalmic discoveries and advance them into medicines.

"We are very pleased to build on our strategic partnership with Biogen as they are committed to working collaboratively to advance products based on truly novel scientific insights," said Baiju R. Shah, Chief Executive Officer of BioMotiv. "The expanded relationship enables us to integrate Biogen's strategic insights into the development of a pipeline of breakthrough ophthalmic innovations that have the potential for high patient impact."

With the additional investment by Biogen of $10 million and commitments by other investors, the total capitalization for BioMotiv has now reached $145 million. 

About BioMotiv
BioMotiv is the mission-driven accelerator associated with The Harrington Project for Discovery & Development, a $300 million US and UK initiative for advancing medicine centered at University Hospitals in Cleveland. The focus is to accelerate breakthrough discoveries from research institutions into therapeutics for patients through an innovative model that efficiently aligns capital and collaborations. The company leverages an experienced team and advisory board to select, fund, and actively manage and advance a portfolio of programs. Learn more at www.biomotiv.com.

About Biogen
Through cutting-edge science and medicine, Biogen discovers, develops and delivers worldwide innovative therapies for people living with serious neurological, autoimmune and rare diseases. Founded in 1978, Biogen is one of the world's oldest independent biotechnology companies and patients worldwide benefit from its leading multiple sclerosis and innovative hemophilia therapies. For more information, please visit www.biogen.com. Follow us on Twitter.

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