New biotech venture fund invests in Cleveland’s future

Two-dozen investors are hoping to make a big impact on the biotech environment in Northeast Ohio through the Cleveland Life Sciences Accelerator Fund, a $2.7 million venture capital fund that closed Aug. 5.

Led by founder Mark Chance, former vice dean of research for the school of medicine at Case Western Reserve University in Cleveland, and with partners Dr. Beno Michel, Edward Hemmelgarn and Robert Hurwitz, the venture fund aims to put Cleveland on the map as a place for entrepreneurs in biotech and life sciences to start companies and keep them in the area, according to the funders.

“I had been impressed when I was at the medical school of how many technologies we had, how many patents,” Chance told the Cleveland Jewish News Sept. 12. “Case is 20th in the world in patenting, if you believe that.”

Click here to read the full article by Jane Kaufman in Cleveland Jewish News.