Congratulations from the USZ Foundation to USZ start-up OBaris on its successful disposal! The foundation supported the innovative start-up via the USZ Health Innovation Hub. The exit marks the first time that the philanthropic funding loop – the USZ Foundation’s entrepreneurial support model – has come into play.
Under ithe model, the USZ Foundation supports start-ups from USZ with a loan at a very early stage when commercial investors are not yet prepared to get involved. If, like OBaris, the start-up is successful in the marketplace, funds flow back to the foundation enabling it to promote further medical innovations for the benefit of patients. This creates a philanthropic funding loop in which the funds are deployed multiple times, thereby increasing the impact of each donated franc. This entrepreneurial funding model has been approved by the cantonal tax authorities and aligns with Zurich’s practice regarding the tax exemption of charitable foundations.
About OBaris
OBaris has developed the OctoPatch, an adhesive patch that painlessly transports drugs that could previously only be administered by injection, directly into the bloodstream via the oral mucosa. The patch can be used, for example, to treat type 2 diabetes or osteoporosis.