GENESIS Tech Transfer Boost incorporates a new investment partner, PINONO S.L.
GENESIS Tech Transfer Boost is an investment vehicle created in 2022 that invests in the field of Biomedicine.
GENESIS Tech Transfer Boost, an investment vehicle managed by GENESIS Biomed, is adding a new partner. The vehicle was created in April 2022 with the aim of detecting and investing in early-stage projects in the biomedical sector, whether from hospitals or academic centres, following in the footsteps of its predecessor GENESIS Ventures. To the €1M commitment from founding partners GENESIS Biomed, FI Group and Crowd4Ventures, PINONO S.L. is now added with a €200,000 commitment.
In the words of Lian Mariné, majority partner of PINONO S.L., "We are delighted to be an investment partner of a vehicle in the field of Biomedicine, such as GENESIS Tech Transfer Boost. This field, which a few years ago was unknown to most investors, is becoming an attractive sector where the emergence of Deep Tech and new technologies are bringing about a revolution with a high impact on people's quality of life".
In the words of Josep Lluís Falcó, CEO of GENESIS Biomed, "the incorporation of a new partner is good news for the vehicle, in particular, and for the biomedical ecosystem in general. The expansion of the fund will allow us to increase the number of early projects in which to invest. This investment will allow the projects to mature so that in the future they can access venture capital investments that will allow them to reach the market".
The vehicle invests tickets of between €25,000 and €100,000 depending on the nature of each project and its needs, and even provides for the possibility of investing in the pre-constitution phase of projects.
During 2023 GENESIS Tech transfer Boost made two investments. The first investment was carried out in March with the investment of a €100,000 ticket in the IiSPV spin-off, RetinaReadRisk. The biotech company has developed a mobile system based on artificial intelligence to predict diabetic retinopathy. GENESIS Biomed has acted as a Venture Building platform in this spin-off: in addition to acting as investor and fund manager, it has been assuming the functions of administrator and interim CEO of the company, helping to raise new public funds, and coordinating the regulatory development of the product, and identifying the new CEO recently hired in the company.
The second investment was made in April, where a €25,000 ticket was invested in the biotech company Spinally Medical. Spinally Medical is a company that has developed and protected a spinal cord stimulation system for the treatment of low back and legs pain (LBP).
In addition to these two investments, three other fundraising processes have been initiated in the last quarter of 2023 and will most likely be closed during the first-second quarter of 2024.
The objective of the vehicle is, in a first phase, to continue to carry out investments in biomedicine projects for the remaining three years to later, in a second phase, find exit scenarios that allow the recovery of the investment with its corresponding multiples.