Technology Transfer Program – Inter-American Development Bank
In 1999, Biominas Brasil signed a technical cooperation agreement with the Inter-American Development Bank to pave the way for a Technology Transfer Program. This program has been successfully used to fund and provide investments for life sciences start-ups in Brazil.
The program is recognized as pioneer in Brazil, creating a culture and practice of venture capital investments, especially in the life sciences.
During the five years of the program, 12 projects were selected for funding (out of a total of 84 projects analyzed). The selected projects received resources - R$ 24.7 million in total - from FUMIN, which were matched by the recipient companies and Biominas Brasil.
Through this project, financing was provided for Bioeasy, Biomm, Biotécnica, Katal, LabRede and Tri Technologies, and investments were made in Alvos, Biocancer, Extracta, i-bio, Linhagen and Prodimol.
Of these companies, we successfully divested from Prodimol in 2008 and Alvos in 2010.