Healthcare provider Nationwide Children’s Hospital has contributed to a $15m fund closed by US-based startup studio Rev1 Ventures along with Ohio State University.
Rev1 currently has some $100m under management. The Rev1 Catalyst Fund II is the successor to a $5.5m first fund launched in 2016 to invest in companies spun off from Nationwide’s research institute.
The fund has exited gene therapy developers Celenex, which was acquired by Amicus Therapeutics in September 2018 for $100m with milestone payments possibly to come, and Myonexus, which was bought by Sarepta Therapeutics for $165m in February this year.
Tom Walker, Rev1 Ventures’ president and CEO, said: “By aligning champions of healthcare innovation, including prominent research institutions like The Ohio State University and Nationwide Children’s Hospital, we are helping to foster life sciences innovation and support entrepreneurs and scientists as they build and grow new companies.
“The Rev1 Catalyst Fund II is dedicated to expanding the infrastructure to support life sciences and attracting talent and like-minded investors to fuel commercialisation.”
