Named Axon Ventures, the fund will allocate up to R$ 45 million for technology projects with the potential to transform the healthcare sector.

Eurofarma, present in 20 countries and one of the Brazilian pharmaceutical companies that invests most in innovation, announces the creation of the Axon Ventures investment fund. Already in operation, the fund will invest in technology projects aimed at the healthcare sector.

The goal is to seek a minority stake in early stage businesses that focus on solving relevant industry issues. “The idea is that the investments will be in the range of R$ 500k to R$ 4 million per company and that Eurofarma can participate in the Board. We aim at operating companies, those with product and revenue, but additionally looking for new growth levers. To enhance the development and results of these operations, we also intend to share our relationship network,” explains Paulo Braga, Corporate Venture manager.

In addition to the growing investments in the research and development of new medicines, which in 2018 totaled R$ 252 million, Eurofarma’s strategy is to increasingly expand its innovation initiatives. In the Corporate Venture area, created in 2017, three fronts have been defined: the first one, named ideation, seeks initiatives still in the embryonic phase to assist researchers and transform a scientific or academic project into a business; the second, focused on startup relationships, is the home to the Eurofarma Synapsis mentoring and promotion program, aimed at scale-ups; and, finally, the third front is focused on Axon Ventures activities focused on investment and participation in disruptive innovations in the healthcare chain.

“Combined with the internationalization process, the 2022 vision maintains that innovation and sustainability are the foundation for the company to be one of the 3 largest regional capital pharmaceutical companies in Latin America, consolidating its market share and leadership in medical prescription. Incorporating new technologies and seeking disruptive solutions that add business value are ways to achieve these goals,” adds Maria del Pilar Muñoz, Vice President of Sustainability & New Business.

The Eurofarma Group is a healthcare company focused on offering products and services to improve people’s lives with quality, innovation and fair price in the areas of Medical Prescription, Prescription Exempt, Generic, Hospital, Oncology and Veterinary. In Brazil alone, the company offers 287 products in 622 presentations, serves 30 medical specialties and covers 101 therapeutic classes, which represent 89% of pharmaceutical retail sales.

Founded in 1972 and as the first multinational pharmaceutical company with 100% Brazilian capital, it has its own operations in 20 countries, maintaining an important industrial site in Brazil and plants in 6 other Latin American countries. In 2018, the group generated sales of R$ 4.3 billion and employs more than 6.7 thousand employees.