University of Pennsylvania, BioNTech, and OUP Launch $50 Million Fund to Accelerate Life Sciences Innovation
The University of Pennsylvania BioNTech SE and Osage University Partners (“OUP”) have announced the launch of a new $50 million venture capital initiative designed to support early-stage life science companies emerging from Penn’s world-class biomedical research ecosystem. The fund, officially named the Penn-BioNTech Innovative Therapeutics Seed Fund (PxB Fund), will focus on translating cutting-edge academic discoveries into transformative therapies, diagnostics, and research technologies that can significantly improve patient outcomes worldwide.
The PxB Fund represents a strategic collaboration between academia, industry, and venture capital, bringing together Penn’s scientific excellence, BioNTech’s global leadership in innovative therapeutics, and OUP’s extensive experience in commercializing university-derived research. By providing targeted early-stage funding and strategic support, the fund aims to accelerate the journey from laboratory breakthroughs to real-world medical solutions.
A Decade of Scientific Excellence Fuels a New Investment Vehicle
The launch of the PxB Fund builds upon Penn’s exceptional track record in biomedical innovation. Over the past decade, Penn researchers have contributed to the development of 45 U.S. Food and Drug Administration (FDA) approvals for vaccines and novel medical treatments. These achievements include pioneering work in CAR T cell therapy, which has transformed cancer treatment, and Nobel Prize–winning mRNA technology that has played a central role in COVID-19 vaccines used globally.
Penn’s research excellence has also been recognized with four Breakthrough Prizes in Life Sciences, underscoring the university’s influence on modern medicine. The PxB Fund is designed to capitalize on this momentum by ensuring that promising discoveries receive the financial backing and operational guidance needed at the earliest and most critical stages of company formation.
Supporting Early-Stage Penn-Founded Life Science Startups
The PxB Fund will invest exclusively in Penn-affiliated startups developing innovative solutions across a broad spectrum of life science domains. These include novel therapeutics, advanced diagnostics, research tools, and emerging technologies such as artificial intelligence–enabled drug discovery platforms. The fund will prioritize companies addressing serious and underserved medical conditions, where scientific innovation has the potential to make the greatest impact on patients’ lives.
By focusing on seed-stage and early-stage investments, the PxB Fund fills a critical gap in the innovation pipeline. Many academic discoveries struggle to attract traditional venture funding at early stages due to scientific and technical risk. The PxB Fund is structured to assume this early risk, providing founders with not only capital but also access to deep scientific, clinical, and commercial expertise.
The fund will be managed by OUP, a Philadelphia-based venture capital firm with more than $800 million in assets under management. OUP has a strong track record of investing in university spinouts, having supported more than 150 startups commercializing academic research, including over 10 companies originating from Penn.
Building on a Strong History of Successful Exits
OUP’s longstanding partnership with Penn has already yielded notable success stories. Recent examples include Capstan Therapeutics, which was acquired by AbbVie, and Interius BioTherapeutics, which was acquired by Kite. These outcomes demonstrate the potential of Penn-derived science when paired with experienced venture leadership and strategic industry collaboration.
Marc Singer, Managing Partner of OUP, emphasized the importance of this new fund in advancing the university’s entrepreneurial ecosystem. He noted that Penn has consistently produced cutting-edge startups and that OUP has worked closely with the Penn Center for Innovation (PCI) over many years to support faculty entrepreneurs.
Through the PxB Fund, OUP plans to leverage BioNTech’s scientific and industry insights alongside Penn’s research strength to identify and nurture the next generation of breakthrough life science companies. The ultimate goal is to transform high-potential discoveries into medicines and technologies that meaningfully improve patient care.
Leadership Appointment Strengthens Fund Expertise
As part of the fund’s launch, Anna Turetsky, PhD, has been appointed General Partner of the PxB Fund. Dr. Turetsky is a seasoned biotech investor and a Penn alumna with more than a decade of experience supporting early-stage therapeutics companies.
After earning her PhD in Biophysics from Harvard University, Dr. Turetsky began her venture capital career at Lightstone Ventures, where she played a key role in building and advising multiple successful life science startups. She later founded and led the venture investment arm of the Mark Foundation, an oncology-focused nonprofit organization. During her tenure there, she worked closely with Penn on investments including Interius BioTherapeutics.
Her appointment adds significant scientific and investment expertise to the PxB Fund and reflects a strong commitment to supporting founders at the intersection of academic research and commercial development.
Enhancing Penn’s Innovation and Commercialization Ecosystem
Penn has long been recognized as a global leader in translating academic research into commercial and societal impact. Hundreds of startups have been formed around Penn intellectual property, and a growing number of FDA-approved therapies trace their origins back to the university’s laboratories and clinics.
The PxB Fund complements Penn’s existing commercialization infrastructure, which includes incubation programs, co-investment initiatives, and technology transfer support through the Penn Center for Innovation. Unlike broader investment programs, the PxB Fund provides a dedicated pool of capital focused on leading financing rounds at the earliest stages of company creation.
This targeted approach is expected to help Penn investigators move more quickly from discovery to company formation, reducing delays that often slow the development of promising biomedical innovations.
Shared Vision for Translational Impact
John S. Swartley, PhD, MBA, Chief Innovation Officer of the University of Pennsylvania, highlighted the alignment of mission and values among the fund’s partners. He noted that Penn’s mission extends beyond generating new knowledge to ensuring that research discoveries translate into tangible benefits for society.
The collaboration with BioNTech and OUP reflects deep mutual trust and a shared vision for accelerating innovation. By enabling faster and more intentional support for faculty-led startups, the PxB Fund is expected to strengthen Philadelphia’s life sciences ecosystem while also driving global patient impact.
BioNTech Expands Its Longstanding Collaboration with Penn
BioNTech, a global pioneer in mRNA-based medicines and next-generation immunotherapies, has maintained close scientific and translational ties with Penn for many years. The collaboration has played a key role in advancing foundational research in immunology, oncology, and RNA-based technologies.
Through participation in the PxB Fund, BioNTech aims to deepen its engagement with Penn’s research community and gain early visibility into emerging therapeutic approaches across a wide range of technologies and modalities. This includes novel platforms that may complement BioNTech’s existing pipeline or open new avenues for innovation.
James Ryan, PhD, Chief Business Officer and Chief Legal Officer of BioNTech SE, emphasized that the partnership aligns closely with BioNTech’s commitment to addressing high unmet medical needs. By supporting early-stage innovation at Penn, BioNTech seeks to help accelerate the next wave of scientific breakthroughs that could shape the future of medicine.
A Catalyst for the Next Generation of Medical Breakthroughs
The Penn-BioNTech Innovative Therapeutics Seed Fund represents a significant milestone in academic–industry collaboration. By combining financial investment with scientific insight and commercialization expertise, the PxB Fund is positioned to serve as a catalyst for transformative innovation in the life sciences.
As global demand grows for faster, more effective development of new therapies, initiatives like the PxB Fund play a critical role in bridging the gap between academic discovery and patient access. With its strong foundation in Penn’s research excellence, BioNTech’s therapeutic leadership, and OUP’s venture capital experience, the PxB Fund is expected to generate lasting impact for patients, entrepreneurs, and the broader biomedical ecosystem.
About the PxB Fund
The PxB Fund (Penn BioNTech Innovative Therapeutics Seed Fund) is a $50 million venture capital fund formed by the University of Pennsylvania, BioNTech, and OUP to invest in early-stage life science companies based on Penn intellectual property and/or founded by Penn researchers. The fund focuses on seed and Series A investments in therapeutics, platforms, diagnostics, and research tools emerging from Penn’s faculty and researcher community.
About OUP
OUP (Osage University Partners) is a venture capital firm that invests in breakthrough start-ups emerging from the world’s leading research labs and innovation ecosystems. We leverage our global network of 150+ university partners as well as deep relationships with founders, entrepreneurs, and industry to source and support the translation of cutting-edge research into transformative companies with impact. Founded in 2009 and headquartered in Philadelphia, OUP manages over $800 million and has invested in more than 150 life science and technology start-ups. For more information, visit oup.vc.
About BioNTech
BioNTech (Biopharmaceutical New Technologies SE) is a global, next-generation immunotherapy company pioneering novel therapies for cancer, infectious diseases, and other serious conditions. BioNTech leverages a broad portfolio of therapeutic modalities, including mRNA-based medicines, engineered cell therapies, antibodies, and small molecules, to develop individualized and off-the-shelf treatments. BioNTech is widely known for co-developing one of the first approved mRNA vaccines for COVID-19 and is advancing a robust pipeline of oncology and infectious disease candidates.
About the University of Pennsylvania
The University of Pennsylvania, founded in 1740, is an Ivy League institution with a distinctive past. Its 12 undergraduate, graduate and professional schools are located in Philadelphia on an attractive urban campus that serves a diverse community of more than 20,000 students from throughout the nation and around the world. Ranked consistently among the top universities in the nation, Penn has a longstanding reputation for excellence in graduate and professional education.
