CINCINNATI, Jan. 31, 2024 (GLOBE NEWSWIRE) -- Orange Grove Bio, a drug investment and development firm, today announced that it has established a new strategic collaboration with Bina, the translational research and innovation unit of the Weizmann Institute of Science, designed to tap into and strengthen the rapidly expanding biotechnology entrepreneurial ecosystem in the Middle East. Located in Rehovot, Israel, just south of Tel Aviv, the Weizmann Institute of Science is one of the world's leading basic research institutions, consisting of 280 experimental and theoretical research groups across multiple faculties including biology, biochemistry, and chemistry, among others. With a reputation for scientific rigor and innovation, the institute and its researchers are credited with undertaking foundational research that supported the development of several key therapeutics including Gleevec®, Copaxone®, Rebif® and Erbitux®.
Orange Grove’s agreement with the Weizmann Institute of Science includes a formal memorandum of understanding with its academic innovation hub, known as Bina (Bridge, Innovate, Nurture, Advance). Bina is focused on identifying, nurturing and supporting early-stage basic research projects which are likely to produce intellectual property with practical applications. Through its collaboration with Bina, Orange Grove will guide and mentor cutting-edge early-stage research taking place across the Weizmann Institute of Science.
This latest academic collaboration continues the strategic international expansion of Orange Grove’s efforts to find and foster innovative biopharmaceutical research that is taking place at universities and research centers around the world. As the world’s fifth largest pharmaceutical market, the Middle East represents a promising target for the firm. In recent years, the rapid expansion of the Middle East’s biopharmaceutical market has been driven by increased government support for ambitious initiatives coupled with strategic partnerships and investments driven by several of the world’s largest pharmaceutical companies. The result is a fertile ecosystem where local universities, research institutes, and scientists receive critical support to help drive their continued contributions to key biopharmaceutical breakthroughs.
“Today we truly are in a golden age of biopharmaceutical research and development with innovative work emerging from all areas of the world, including those outside the typical hotbeds of the U.S., Europe, and Asia. From our perspective, the Middle East is rapidly establishing itself as home to some of the most promising research that will drive the next generation of drug discovery and development,” said Marc Appel, Orange Grove Bio’s chief executive officer. “As a group focused on finding and collaborating with researchers on the cutting edge to create companies that can bring their discoveries to patients, we knew that we needed to establish a strong presence in this region. The history of innovation and excellence that is synonymous with the Weizmann Institute of Science put them at the top of our list of ideal collaborators, and we are excited to work with its talented teams of researchers.”
“The research conducted at the Weizmann Institute of Science, renowned as one of the world's leading multidisciplinary basic research institutions in the natural and exact sciences, leads to a profound understanding of fundamental principles. This understanding is essential for leapfrogging into future innovations, solving complex problems, and opening new avenues for exploration and development. Through our partnership with OGB, we continue to support and invest in basic science research, thereby fueling the engine of future innovations for the benefit of humanity,” said professor Irit Sagi, vice president for innovation and technology transfer.
As part of the collaboration, Orange Grove Bio and Bina will scout for translation of scientific discoveries made by researchers across the Weizmann Institute of Science. Orange Grove Bio will work collaboratively with Bina to identify and foster opportunities to create proof-of-concept in the field of drug development across a broad range of therapeutic areas. This will include spearheading educational programming and mentoring sessions for scientific staff, including faculty and students, as well as implementation of a graduate internship program that provides guidance and real-world biotech industry experience.
Orange Grove Bio’s mission is to develop new therapeutic options for patients by harnessing the significant research potential found in universities and academic medical centers across the United States and internationally. Orange Grove Bio fosters strong relationships with technology transfer offices outside of the traditional medical technology hubs of Boston and San Francisco. Collectively, Orange Grove Bio’s team possesses decades of drug development and company creation experience, allowing it to build and finance innovative programs from the research and development stage to clinical trials.
About Orange Grove Bio
Orange Grove Bio is a capital allocation and asset development biotech company. Orange Grove partners with universities, academic medical centers, and entrepreneurs to develop innovative treatments for important diseases, particularly cancer and immune disorders. Learn more at: www.orangegrovebio.com
About Bina
Bina (Bridge, Innovate, Nurture, Advance) is a scientific unit at the Weizmann Institute of Science. Bina identifies, nurtures and supports early-stage basic research projects which are likely to produce intellectual property with practical applications. The Weizmann Institute of Science is one of the world’s leading multidisciplinary basic research institutions in the natural and exact sciences. It was initially established as the Daniel Sieff Institute in 1934, by Israel and Rebecca Sieff. It was renamed for Dr. Chaim Weizmann, the first President of the State of Israel and founder of the institute. The Weizmann Institute has a long history of investigation and discovery rooted in a mission of advancing science for the benefit of humanity. In parallel, it educates a substantial portion of Israel’s scientific leadership and advances science literacy in schools and among the public. Learn more at: https://www.weizmann.ac.il/pages// and https://www.weizmann.ac.il/Bina/#home
Gleevec® is a registered trademark of Novartis Pharmaceutics Corporation; Copaxone® is a registered trademark of Teva Pharmaceutical Industries LTD; Rebif® is a registered trademark of EMD Serono, Inc. or its affiliates; Erbitux® is a registered trademark of Eli Lilly and Company.
