Israel Launches $500 Million Fund for Biotech Innovation

Israel is establishing a new national center for biotechnological innovation, the INBI, aimed at accelerating the development of promising scientific research into market-ready products. The initiative, spearheaded by former Bristol Myers Squibb executive Samuel Moed and Compugen chair Anat Cohen-Dayag, is designed to bridge the gap between academic discoveries and commercialization.

The INBI Core fund will identify cutting-edge research within Israeli universities and assist in transforming these findings into new companies or facilitating technology transfer to major pharmaceutical firms. Fifteen Israeli academic institutions, including the Weizmann Institute, Hebrew University of Jerusalem, Tel Aviv University, Technion, and Bar-Ilan University, have already joined the initiative, along with leading hospitals and medical organizations.

Organizers emphasize that the INBI will complement, not replace, existing university technology transfer offices. Its primary goal is to support promising developments from the research stage through to startup creation or licensing agreements with pharmaceutical companies. Moed noted that while Israeli universities possess significant scientific potential, individual institutions often lack the scale and experience to bring all their innovations to the global market independently.

The INBI also plans to build an international network of experts and mentors to guide young companies in securing funding, finding partners, and accessing leading pharmaceutical and biotech firms. The fund aims to raise $500 million over ten years, with initial support expected from philanthropists interested in healthcare and Israeli innovation. The organizers are also seeking government backing from the Ministry of Finance, Ministry of Economy and Labor, and the Israel Innovation Authority.

Philanthropy is expected to be the primary funding source initially, with plans to attract private capital to the university-developed companies in the future. The overarching objective is to create a cohesive system that expedites the translation of Israeli scientific discoveries into new medicines, medical technologies, and biotechnology companies.