Specialty life-science investment company Torrey Pines Investment (TPI) has signed a multi-million dollar joint investment framework agreement with BioMotiv, a biotech accelerator associated with The Harrington Project for Discovery & Development.
Pursuant to the terms of the agreement, the two companies will sponsor early stage life-science programs and companies over the next seven years.
The two firms are committed to funding new technologies and ideas from any location world-wide that help develop new medicines quickly and cost-effectively.
Additionally, Torrey Pines and BioMotiv intend to invest in multiple therapeutic areas and disease targets.
BioMotiv CEO Baiju Shah said that Torrey Pines Investment is committed to new models of efficient therapeutic development and thus is an aligned investment partner for BioMotiv.
"In addition, their network provides BioMotiv access to new technology sources and experienced development capabilities," Shah added.
