Life Science Invest Fund invests in Sprint Bioscience

LSIF was by far the largest guarantor in the recent funding round for Sprint Bioscience, and as a result, we will be a shareholder in the Top-5 going forward, which we are pleased with. During our due diligence phase, we visited the company and were impressed by the work process, expertise, and dedication.
Normally, a company with preclinical development is not a match for LSIF, but the Sprint Bioscience business model, which makes preclinical drug discovery their "commodity" to be out-licensed to the global pharmaceutical industry at this stage, makes Sprint Bioscience a commercial company.
With 1 drug out-licensed, the business model is validated, and with 6 interesting drugs in the pipeline and a competent management, we believe that Sprint Bioscience is well positioned to deliver commercial results over the next 12 months, which combined with the low valuation makes the company very interesting for us