NEW YORK, Dec. 10 – The European Molecular Biology Laboratory has raised 10 million euros ($8.9 million) for its first technology fund, which will look to invest in start up companies emerging from the research center.
The European Molecular Biology Laboratory Enterprise Management fund, or EMBLEM, received funds from investors including 3i of the UK, BankInvest of Denmark, and Marco Polo of Spain.
EMBL hopes to raise an additional seven million euros and to close the fund next year.
EMBL, which has spun off such companies as Lion Bioscience, Cenix BioScience, Cellzome, and Gene Bridges, hopes that the new fund will help it to commercialize more emerging technologies.
“With the EMBL Technology Fund we have created another vital building block necessary for the successful overall implementation of technology transfer at EMBL,” Gabor Lamm, managing director of EMBLEM, said in a statement released last week.
EMBL of Heidelberg, Germany, is a basic research institute. It receives its funding from 16 member states, including most of the EU, Switzerland, and Israel.