Aglaia’s team and their limited partners are committed in achieving a positive impact on patents and society in addition to achieving a compelling financial return. Aglaia’s vision is that when stellar science is translated into great medicines for cancer patients, financial awards for those involved in this process will ultimately follow. In line with this philosophy, Aglaia has developed a tool to monitor the socio-economic impact of its investments in oncology biotech companies. Aglaia teamed up with the social impact consultancy firm Sinzer, now an affiliate of Grant Thornton, to jointly develop the first social impact measurement and management tool for the life sciences industry, using Sinzer’s existing web-based software for evaluation of social impact. The joint development of a framework specifically for the life sciences industry, called Aglaia Biomedical Impact Suite (ABIS), was completed in 2015.
With ABIS the socio-economic performance of the fund, portfolio companies and individual projects can be evaluated and consolidated in social impact reports. Over the last three years, Aglaia has used ABIS to collect social impact data from Aglaia Oncology Fund II (AOF II)’s portfolio companies. 800 cancer patients have been treated so far with investigational drugs developed by AOFI and AOFII portfolio companies. AOFII’s portfolio companies collectively have more than 100 approved patents, 110 accepted scientific papers and more than 70 research collaborations, which illustrates the science-driven mentality and innovation ability. The AOFII companies collectively employs more than 100 FTEs and have outsourced close to 70 projects, thereby contributing to the economy in the EU.
It is the ambition of Aglaia and Sinzer/Grant Thornton to make this social impact platform broadly available to the life sciences community, thereby fostering socio-economics ethics and a patient-centric culture in this industry.