Basel, Switzerland – Swiss pharmaceutical and biotech firm Lonza is partnering with U.S.-based Prolog Ventures to create a venture capital fund focusing on consumer health and wellness products, according to a company press release.
The Prolog Lonza Consumer Fund will focus on products, technologies and innovative business models related to fast-moving consumer goods markets, such as personal care, functional food and beverages, medical food, dietary supplements and home care that “maintain, protect, or preserve the health and well-being of people and companion animals.”
Prolog, a San Francisco and St. Louis-based venture capital firm that invests in consumer health and wellness companies, will be the fund’s manager. Prolog’s portfolio currently includes CareDox, a pediatric health care technology firm, Plum Organics, a line of organic, non-GMO products for babies, toddlers and kids, Singulex, a provider of single molecule counting diagnostic technology, and Revive, a kombucha beverage company.
Lonza is a leading supplier to the pharmaceutical, biotech and specialty ingredients industries with a strong focus on patient healthcare, consumer preventive healthcare and consumer’s healthy environment.
The new fund offers value well beyond financial support by leveraging Lonza’s global resources and expertise to accelerate the growth of its portfolio companies. It is expected that the fund will invest annually into two or three startups on average in the mid-single-digit million-dollar range.
“This investment demonstrates Lonza’s commitment to innovating along the value chain and to creating additional value for our customers with new technologies and integrated solutions,” said Sven Abend, COO of Lonza’s Specialty Ingredients segment, in the statement.