BaseLaunch, the Basel-based biotech venture incubator, today announces that AbbVie has become its newest partner. Through this strategic investment into BaseLaunch, AbbVie gains access to the highest quality life science deal flow in central Europe. By taking a seat on BaseLaunch`s investment board, AbbVie will lend its unique experience in biotech innovation and development of medicines that matter to the incubator. This will greatly add to the venture building capabilities of BaseLaunch.

Christian Schubert, Vice President and Head of AbbVie Ventures, Cambridge, MA, commented: "Through our strategic investment in BaseLaunch, we will further strengthen our ties to the European biotech innovation ecosystem. With our involvement in the review process and funding decisions through our investment board seat, we aim to contribute to BaseLaunch's company creation track record and leverage AbbVie's expertise in translating innovative science into novel therapeutics. We look forward to working closely with the BaseLaunch team to enable the progress of innovative venture companies and medicines."

Stephan Emmerth, Director Business Development & Operations at BaseLaunch, Basel, CH added: "Today's announcement further validates the Basel area's unique position as a global life sciences hub, and we are delighted to welcome AbbVie as our newest partner. AbbVie is a leading global pharmaceutical player which will be a source of world-class help and advice, instrumental to the successful development of our growing portfolio of cutting-edge biotech companies."