AstraZeneca and JVP will provide support to Israeli start-up companies providing direct access to databases and leading academic research institutes in the field of digital health with the objective of finding technological solutions in the medical sphere.
Tel Aviv, 27 November 2019. AstraZeneca PLC, the leading global pharmaceutical company, last night (Tuesday) launched its official first entry into the Israeli innovation sector through its ambitious project, BeyondBio, its unique investment program in the digital health sector in Israel.
The event was held in the Peres Center for Peace and Innovation in Jaffa, Israel, and was attended by 300 of Israel’s globally recognized leaders in the medical and pharmaceutical fields.
Project BeyondBio was launched as part of the Memorandum of Understanding for Investment in Israel that was signed six months ago by, AstraZeneca the British pharmaceuticals giant and the Israel Innovation Authority. The first investment in Israel by AstraZeneca is estimated to be about 10 million shekels.
The program’s flagship project, “PLAY BeyondBio,” is envisioned to develop and promote start-ups in the digital health field in order to locate and create ground-breaking solutions that provide technological answers to the most pressing challenges and problems that the industry currently copes with.
The program is a strategic partnership between AstraZeneca PLC and the venture capital fund, JVP, the Israel National Initiative Association, Maccabitech Healthcare Research and Innovation Institute, Morris Kahn, the Sagol Fund, and Microsoft Corporation. The program will enable local start-ups access to a wide range of resources that includes guidance and mentoring, access to databases, professional training and enrichment, finance, etc.
Over the last few years, the combination of healthcare and technology has become a substantial and important engine for growth in the health industry worldwide, and the method through which medical disorders are identified and tools developed to improve patient treatment.
AstraZeneca PLC, the British pharmaceutical company, was recently ranked by IDEA Pharma’s Pharmaceutical Innovation Index as the most innovative global pharmaceutical company, largely as a result of its large-scale and extensive clinical pipeline for new drugs, as well as its cutting-edge medical research. Very active in the fields of innovation and digital healthcare, the company has a number of innovation centres and technology incubators around the world including in China, Sweden and France. AstraZeneca has identified Israel’s potential as a strategic destination in the digital health sphere, and as a result they have decided to launch the BeyondBio project, cooperating closely with leading strategic entities in the industry
Ohad Goldberg, CEO AstraZeneca Israel: “AstraZeneca’s local representatives have striven for over a decade to make medicine more accessible and invested in clinical research in Israel. We are proud now to launch our unique plan, BeyondBio, designed as a result of the recognition Israel receives as an up-and-coming global force in the innovation and digital health fields. Together with its strategic partners for this project, AstraZeneca will support the development of medical solutions which will furnish the healthcare system with better tools to provide better care to patients in Israel and around the world.”
Erel Margalit, Founder & Chairman, of JVP and ii2020: “The world of health and medicine are facing dramatic changes. Israel now has the opportunity to become a world leader in digital health, and Israeli entrepreneurs have the ability to lead this revolution. Israel is home to the smartest minds in technological fields such as AI, Cyber, and IT among others. The connection between disruptive Israeli technology and the knowledge and experience of Astrazeneca, a world leading pharma corporation, along with partners such as Microsoft, Israel Initiative, Maccabi, prominent hospitals, and medical schools, is the foundation for entrepreneurs transforming Digital Health into the next leading category with thousands of job opportunities in the coming years, from here in Israel”.
Iskra Reic, AstraZeneca Executive Vice-President, Europe and Canada: “BeyondBio is an important addition to the global effort towards innovation by AstraZeneca, with unique projects in China, Brazil and across Europe. This is a combined effort of research and development, digital and marketing that come together to support our strategy of improving patient health and wellbeing around the world.”
Last night’s (Tuesday’s) launch event of the investment program, BeyondBio, was attended by leading healthcare experts in the Israeli medical system alongside directors and senior management of pharmaceutical companies, as well as representatives from around the world including Iskra Reic, AstraZeneca’s Executive VP, Europe and Canada, Ohad Goldberg, CEO AstraZeneca Israel, Erel Margalit, Founder and Chairman of JVP and the National Innovation Institute, Anya Eldan, VP of the Innovation Authority and Head of Start-up Division, Prof. Varda Shalev, Director, Institute of Research and Innovation, Maccabitech, alongside Morris Kahn, the Sagol Fund, Prof. Marcelle Machluf, Dean of the Faculty of Biotechnology and Food Engineering at the Technion-Israel Institute of Technology, and other guests.
As part of the BeyondBio project, AstraZeneca has also recently entered into partnership with the ARC Innovation Center at the Sheba Medical Center, Tel Hashomer, where the company will provide support in research and development for the challenges the healthcare system faces in Israel.
About AstraZeneca
AstraZeneca is the leading global pharmaceutical, innovation-driven company that initiates and promotes research, development and the distribution of innovative prescription pharmaceuticals. The company operates in a number of core areas that include cancer, cardiovascular, metabolic and respiratory diseases for which the company has developed breakthrough drugs. The company operates in over 100 countries worldwide, and AstraZeneca Israel was established in 2007 as the official representative of the international company in the country. AstraZeneca Israel invests in research, development and medical treatment, promotes and encourages clinical trials and works together with medical organizations in an effort to strengthen the healthcare services provided for the benefit of the greater society. https://www.astrazeneca.com/
About JVP
The JVP Fund is a leading international fund that stands at the forefront of global technology innovation. Since its founding in 1993 by Erel Margalit, it has raised US$1.4 billion and has invested in more than 140 companies. During this period, JVP has led dozens of exits and launched a number of listings on Nasdaq, and as the leading Israeli venture capital fund, has been ranked by the research company, Preqin, as one of the top six most consistently performing venture capital funds in the world. JVP invests in early-stage start-ups and later-stage companies, artificial intelligence, big data, cyber-security, fintech, mobile, storage etc.
The fund operates the leading centers of excellence in Israel: the Media Quarter in Jerusalem; the CyberCenter in Beersheba; and in New York. JVP’s innovation centers are seen as role models and magnets for strategic cooperation, drawing together a wide variety of sectors and technology giants across the globe. https://www.jvpvc.com/