Orange Grove Bio

Orange Grove Bio operates as a preclinical drug investment and development firm, functioning as a company-creation and venture investment platform. Founded in 2019 by Marc Spencer Appel and Dr. Lutz B Giebel, the Cincinnati-based company aims to bridge the gap in venture capital funding for promising pharmaceutical research outside of traditional biotech hubs. The firm's business model is centered on partnering with universities and research institutions to identify and license novel technologies, particularly in the fields of oncology, autoimmune diseases, and inflammatory diseases.

Co-founder Marc Appel, a lawyer and experienced healthcare investor, identified the need to connect promising academic research with development capital and expertise. His background includes roles at McKinsey & Co., Kirkland & Ellis, and Marathon Asset Management, where he focused on healthcare and royalty investing. Co-founder Dr. Lutz Giebel is a seasoned biotech entrepreneur with experience founding and leading multiple companies to successful exits, including Delinia Inc., which was acquired by Celgene. The firm operates by creating new portfolio companies around licensed technologies and deploying its internal team of drug development experts to manage these startups, thereby de-risking the assets and advancing them toward clinical trials. This centralized expertise allows for efficient capital allocation and streamlined operations.

Orange Grove Bio's primary clients are the universities and researchers it partners with, providing them with capital and the operational capabilities needed to commercialize their discoveries. The company has established collaborations with institutions like the University of Pittsburgh and the University of Chicago to foster local biotech ecosystems. Revenue is generated through the successful development and eventual exit or out-licensing of the therapies developed by its portfolio companies. To date, the company has raised $16.6M in funding and has launched several subsidiary companies, including Allonix Therapeutics, Preservation Bio, and IpiNovyx Bio, each focused on specific therapeutic areas or technologies sourced from university labs.

Keywords: preclinical drug development, biotech venture capital, university technology transfer, pharmaceutical commercialization, oncology therapeutics, autoimmune disease treatment, inflammatory disease research, life sciences investment, drug discovery partnerships, academic spin-outs, biotech company creation, therapeutic licensing, early-stage drug development, Cincinnati biotech, Marc Appel, Lutz Giebel, Allonix Therapeutics, Preservation Bio, IpiNovyx Bio, biotech incubation