Launched in March 2018, the Penn Medicine Co-Investment Program assists faculty entrepreneurs as they move along the path to venture creation and permanent financing through active support and early stage targeted co-investments focused on cell therapy, gene therapy, mRNA, lipid nanoparticles, and connected health technologies. The program helps to further incentivize faculty innovation while also capitalizing on Penn’s strengths in key areas and spurring increased economic growth in the Philadelphia region.
Since its inception, the Co-Investment Program has co-invested over $30M in 13 Penn Medicine spinouts that have gone on to cumulatively raise over $1.36B in capital, created over 350 jobs, expended over $224M in sponsored research funding, and spent over $50M with local contract research organizations.
In FY22, the Co-Investment Program helped to launch and fund two new companies, ViTToria Biotherapeutics and Dispatch Bio, made its first investment in CareAlign, and participated in follow-on financing rounds for Linnaeus Therapeutics and Interius Biotherapeutics.