Hikma Pharmaceuticals, a Amman based pharmaceutical company, is launching Hikma Ventures, a $30 million venture capital fund focused on the digital health sphere, primarily digital health, therapeutics and diagnostics startups. Based in Amman, the fund's primary focus is to identify and invest in emerging companies in the digital health space, not limited to Amman, including related sectors like drug delivery technologies.
Founded in August 2015, Hikma Ventures operates as the corporate venture capital arm of Hikma Pharmaceuticals, tapping into opportunities in the growing digital health space with a focus on the Middle East and Africa as well as the United States.The initial investment size is up to $3 million per round with the opportunity for follow-on funding.
“We will invest in companies across different stages, including seed, series A and series B,” Managing Director Lana Ghanem said, according to Wamda .
Since the launch, Ghanem has worked to source deals with accelerators, incubators, and VCs both regionally and abroad.
Hikma Ventures' investment strategy requires that the company have at least a year track record with a strong business plan and intellectual property, and preferably already generating revenue.
Founded in 1978, Hikma Pharmaceuticals produces generic pharmaceutical products across 28 manufacturing facilities in 11 countries. Branded products makeup the company's largest line of business, including products such as Blopress, Prograf, and Suprax. In 2005, the company went public on the London Stock Exchange.
