The SOSV IndieBio San Francisco team

SOSV Announces Launch of IndieBio New York

World’s leading life sciences accelerator expands to New York City beginning April 2020 — Call for applications open now

SOSV
SOSV
Jan 7 · 5 min read

(NEW YORK, January 7th, 10:30am EST)SOSV, the world’s most active investor in both life sciences and hardware, announced that the inaugural cohort of IndieBio New York will start in Manhattan in April 2020, with applications being accepted beginning today.

“We’re doubling down on life sciences,” said Sean O’Sullivan, founder and Managing General Partner of SOSV. “We are looking to bring what IndieBio has created for the California life science industry to the East Coast. New York is a great hub for life sciences research and financing, and will be a natural center for life science startups.”

SOSV created the world’s first life sciences accelerator in 2014, and in the past five years has backed nearly 200 life science startups with a combined valuation of over $3 billion, raising more than $700 million, and employing over 2,000 people. This number includes pioneering deep-tech startups like Memphis Meats (cellular agriculture), Prellis Biologics (human tissue engineering), Synthex (cancer therapeutics), NotCo (plant-based animal-free food products), and Perfect Day (milk without the cow).

Sweetening an Already Attractive Deal — Up to $2 Million Per Therapeutics Startup

“We’ve seen a lot of success with our therapeutics startups already,” said Arvind Gupta, SOSV General Partner and founder of IndieBio in San Francisco. “Yet therapeutics companies often require more animal and safety studies in order to de-risk the startups for later-stage capital and unlock huge value creation. We want to see what will happen to our deal flow by offering up to 8 times the capital for an initial group of startups.”

Upon success, IndieBio will expand the therapeutics funding track to as many as 12 therapeutic startups per year across both San Francisco and New York. Therapeutic startups in the program will receive up to two years of wet lab facility, coworking space, and mentoring access to on-staff PhD scientists. SOSV will be building out a 24,000 square foot lab and co-working space for their NY-based startups, more than doubling their space in New York City as part of this expansion.

Solving Global Challenges With Hands-On Support

“This year nearly $1 billion will go into SOSV-backed companies from VCs and corporate investors,” said O’Sullivan. “On top of the $65 million SOSV invests directly into our startups every year, SOSV’s deep-tech startups are getting huge funding leverage from our syndicate of VCs, angels and corporates.”

SOSV closed the $277 million SOSV IV fund in December 2019. From this fund, SOSV both provides accelerator funding as well as provides post-accelerator follow-on funding of $200k to $2 million per startup, per round, for all startups which go through SOSV programs.

Call for Applications Solving for Human and Planetary Health

Additional Portfolio Highlights

SOSV is a pioneer in ‘clean food’ and cellular agriculture with investments in Geltor (animal-free collagen), Clara Foods (egg proteins), and Abbot’s Butcher (plant-based meat). SOSV was the initial investor in Jungla (A.I.-driven genomics), acquired in July 2019 by Invitae (Nasdaq: NVTA).

Therapeutics has always been the core application of biotech, and SOSV has remained one of the industry’s most active funds, investing in cancer therapeutics (Filtricine, A2A Pharma), new modalities for autoimmune diseases (Diadem, DNA Lite), regenerative medicine (Membio, BioAesthetics), and gene delivery (Serenity).

About the IndieBio New York Program

The program will work alongside New York’s leading academic institutions to commercialize both local and global inventions. Startups funded by IndieBio New York must relocate to New York for the duration of the program, and can leverage the extensive resources of the east coast life sciences industry.

About SOSV

In both 2018 and 2019, three of SOSV’s startups were selected each year as creators of the Top Inventions of the Year by TIME Magazine, a feat unparalleled by any Fortune 500 company or any other VC.

For further information: kayla.liederbach@sosv.com


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SOSV: Inspiration from Acceleration

Insights from The Accelerator VC—including our programs (HAX, IndieBio, Chinaccelerator, MOX, Food-X, dlab) & our startups.

SOSV

Written by

SOSV

The Accelerator VC—running HAX (Hardware), IndieBio (Life Sciences), Chinaccelerator & MOX (Cross Border Internet), Food-X (Food) & dlab (Blockchain)

SOSV: Inspiration from Acceleration

Insights from The Accelerator VC—including our programs (HAX, IndieBio, Chinaccelerator, MOX, Food-X, dlab) & our startups.

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