According to prof. Bumelis, scientific and economic progress is hard to imagine without investments in specialists, advanced equipment, and improvement of study programs. "I come from the same region as Klaipėda University, that's why the future of science and education of this region is very important to me; and it is inseparable from the development of innovative high technologies and the synergy of the scientific and business communities. Therefore, I support Klaipėda University's aspiration to develop blue economy in the region and to build an innovation ecosystem with the help of the endowment capital fund", said prof. Vladas A. Bumelis.
Vytautas Adomaitis, Director of the KU Future Support Fund, considers the contribution of the Northway Biotech to the University's endowment capital fund as one of the most substantial business investments in KU's future. "Great thanks to prof. Bumelis and the Northway Group of Companies for investing in the future of Klaipėda University. The trust of the biotechnology leader in Klaipėda University testifies to the maturity of the University and inspires us to pursue new goals. We shall use the donation to build up the endowment capital of the KU Future Fund. This is a great start for further cooperation in developing Klaipėda University which creates the future", said Vytautas Adomaitis.
On the day of signing the agreement, KU researchers enjoyed the opportunity to visit the laboratories of the company led by prof. Bumelis and to get to know how research work is organised in a business company, which is considered to be one of the leaders of the world biotechnology market. Prof. Bumelis, its founder and leader, did not rule out that the established relationships with KU may develop into joint scientific research projects in the future.
The Northway Group of Companies unites 17 companies developing activities in the fields of medicine, biotechnological pharmacy, and investment activities. The main companies of this group are Northway Medical Centres, which unite a network of 7 clinics, and Northway Biotech, which provides outsourced services for the development and production of biopharmaceutical products. Successfully operating for eighteen years, Northway Biotech specialises in cell line construction, process development, and supply of medicinal substances and medicinal products, produced in accordance with the standards of Good Manufacturing Practice (GMP), for clinical trials. The clients of Northway Biotech's divisions, located in Vilnius and Boston (USA), are biotechnological companies, international pharmaceutical companies, and famous scientific institutions from Europe, North America, and Asia.
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ABOUT THE FUTURE SUPPORT FUND OF KLAIPĖDA UNIVERSITY (KU FUTURE FUND). The KU Future Fund was established by nine Lithuanian business companies – shareholders of the Fund. It officially started its activities on 14 May 2021. During the first year of its operation, the KU Future Fund signed € 170,000 support contracts. On 20 January 2022, at an extraordinary meeting of the shareholders of the KU Future Fund, a decision was taken to build up an endowment capital fund of € 500,000 and to start investment management.
