Rotterdam seeks Israeli biomedical cos

The municipality is raising €20 million for its Erasmus Biomed venture capital fund.

Rotterdam will open a conference tomorrow in Tel Aviv for Israeli biomedical companies in an effort to attract them to set up shop in the city and to meet Dutch investors. The Dutch port plans to become a global high-tech center, with a focus on the life sciences. The municipality will provide consultancy and administrative services to these companies free of charge.

Rotterdam is raising a €20 million venture capital fund, Erasmus Biomed, to invest in companies that decide to locate in the city. The fund has already made its first closing at €11 million, and will begin making investments. Erasmus Biomed is a partnership of Rotterdam’s Erasmus Medical Center, the Rotterdam Development Corporation, and private parties.

Erasmus Biomed partner Tom Schwartz told “Globes”, “Rotterdam wants Israeli high-tech.” He added that almost 20 Israeli companies have asked to meet delegation members. “I will meet with healthcare and biotechnology companies to examine possible venues of collaboration. The goal is to offer Rotterdam’s resources to start-ups. The Erasmus Biomed fund welcomes Israeli start-ups interested in operating out of Rotterdam and cooperating with Erasmus Medical Center.”

Schwartz said that Erasmus Biomed would make early-stage investments in medical devices, drug development, biotechnology, and cardiology devices companies.

“Globes”: What are you seeking in Israel?

Schwartz: “We are well aware of the level of Israeli biotechnology and medical technology. We want to tell start-ups about our activity in order to reach cooperation agreements. We also want to present the funds portfolio companies in order to examine possible collaboration with Israeli companies in their fields.”

Does the Netherlands have major pharmaceutical companies?

“The large companies aren’t in the Netherlands, but it does have mid-sized companies with a range of interesting activities. Holland is a small country, like Israel. On the other hand, Erasmus Medical Center is a leading university hospital that collaborates with all the leading pharmaceutical companies in the US. A lot is happening in Rotterdam; we’re spinning out the city. That’s why we were able to raise the fund so quickly.”

Published by Globes [online], Israel business news - www.globes.co.il - on October 16, 2007

© Copyright of Globes Publisher Itonut (1983) Ltd. 2007

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