BioMotiv, a drug development accelerator based in Cleveland, Ohio, has increased its total capital to $46m.
Backers included Nationwide Mutual Insurance Company and individual investors, who joined founding investors University Hospitals of Cleveland and the Harrington Family. In conjunction with the investment, Nationwide Mutual Insurance Company also will appoint a representative to serve on the Board of Managers.
Launched last year and led by Baiju R. Shah, Chief Executive Officer, BioMotiv seeks early-stage therapeutic technologies that are at the pre-clinical or early-clinical stage of development. The company is interested in licensing technologies across all disease areas and types of therapeutics—small molecules, antibodies, proteins, cell therapies, and nucleotides.