The State of Lower Saxony, Sartorius and the University Medical Center Göttingen launch the “Life Science Valley” Wachstumsfonds
A significant boost for life science start-ups in Göttingen: the State of Lower Saxony, Sartorius AG and the University Medical Center Göttingen are launching the “Life Science Valley” Wachstumsfonds for the early-stage financing of life science start-ups. The fund initially has around €12 million in venture capital, which is to be increased to up to €20 million by bringing in further investors. The fund invests in science-driven start-ups headquartered in Lower Saxony in the fields of biotechnology, medical technology, digital health, data science and drug development.
The fund is managed by Life Science Valley Ventures Management GmbH, whose managing directors are the investor and serial founder Marco Janezic and the experienced industry expert Dr. Sven Wagner. The state is investing around €6 million in the fund via NBank; a further €6 million in equity in total comes from Sartorius and the University Medical Center Göttingen. The “Life Science Valley” Wachstumsfonds is one of three regional growth funds in Lower Saxony in which the state has a significant financial stake. The other two are managed from Hanover and Osnabrück.
Voices on the launch
“Göttingen benefits from the strong commitment of Sartorius AG and the University Medical Center and has developed into a hub for young life science companies. This has an impact on the region and beyond. The new fund is an ideal complement to existing support such as the high-tech incubator, which helps young talent from the university turn their ideas into business models. We need young minds, especially in the life sciences, to continue on the path towards a liveable and sustainable Lower Saxony,” says Olaf Lies, Lower Saxony’s Minister for Economic Affairs, Construction, Transport and Digitalisation.
Dr. Ulf Meier, member of the Board of NBank, which implemented the growth fund with state funds on behalf of the state and is investing in the new fund as a limited partner: “NBank is very actively supporting the development of Göttingen and the entire region into a life science stronghold. After the funding of the Life Science Factory and the high-tech incubator, the Life Science Valley fund is the third building block benefiting Göttingen as a life science location. In total, this amounts to around €13 million in funding and €6 million in equity capital. The high-tech incubator is currently supporting 15 start-up teams. With the new fund, there is now a good financing perspective for the teams that are developing promisingly in the high-tech incubator. We see a lot of potential here locally, but the fund is of course focused on start-ups from all over Lower Saxony.”
The metropolitan region is a strong driver of innovation when it comes to new ideas in the life sciences, says Prof. Wolfgang Brück, member of the Board of the University Medical Center Göttingen: “At the UMG, translation – turning scientific findings into applications – is a major concern for us, so that new drugs and innovative procedures can benefit patients as quickly as possible. We are aware of the particular challenges that life science start-ups face, and the necessary start-up capital is not least a decisive factor for success. As a pioneer from the scientific sphere, we as a university medical center want to make our contribution.”
The biotechnology group Sartorius, which is involved in a range of start-up initiatives both regionally and internationally, has been a key driver of location development and innovation in Göttingen for many years. “With its renowned research institutions and local industry, Göttingen is already an attractive and highly innovative location. But first-class technologies and innovative strength will not help even the best start-up if there is a lack of start-up and growth capital. This is particularly true of the life sciences, which are characterised by very long development times and high investment requirements. By investing in the regional growth fund, we are supporting an important step towards overcoming this hurdle,” says Dr. Joachim Kreuzburg, CEO of Sartorius.
About Life Science Valley Ventures Management GmbH
Life Science Valley Ventures Management GmbH was founded in 2022 to drive regional investment activities in Göttingen and Lower Saxony. The company is based in Göttingen and is managed by Dr. Sven Wagner and Marco Janezic.