UKUK

Wellcome Trust launches Venture Capital arm

21.03.2012

London – The British Wellcome Trust announced on 20 March that it will launch a £200m business to invest directly in healthcare and life sciences companies. The business, up to now running under its working title Project Sigma, will draw its initial capital from the trust’s endowment. „Although Sigma has the primary goal of generating excellent returns for the Wellcome Trust, its investments will also provide emerging businesses in the healthcare sector with a valuable new source of funding and guidance“, the Wellcome Trust stated. In recent years, the charity, which hands out £600 million in research grants every year and has a £14 billion endowment, has substantially increased its private equity holdings. On 30 September 2011 it has invested £2.7bn in venture capital firms. The trust has recruited Martin Murphy, previously a partner at venture capital firm MVM Life Science Partners, as Sigma’s chief executive and Oxford Instruments and Deltex Medical chairman Nigel Keen to chair Sigma’s board. As everywhere, British biotech start-ups are struggling to find new funding, and venture capital players have been called conservative in their investments in drug developers in recent years. Therefore, new funding mechanisms are met with cheers. Glyn Edwards, interim chief executive at the BioIndustry Association trade body, expects a significant boost to companies developing new medicines: „It is especially pleasing to see that the fund will take a long term view and provide companies with the support they need to reach their full potential.”

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17.12.2011

Surrey – The UK government is investing an additional £80m (€93.5m) to fund continued development of the Institute for Animal Health (IAH) at Pirbright, an institute of the Biotechnology and Biological Sciences Research Council...

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15.12.2011

Rijeka/London – Allergies like asthma or psoriasis might arise from environmental toxins, suggest researchers from Rijeka University (Croatia) and King’s College (London). In mice, they identified a special population of T cells...

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13.12.2011

London – Interesting times ahead in the European cancer treatment market. A report states that in the UK alone, diagnosis and treatment costs are likely to increase by 62%, from £9.4 billion in 2010 to £15.3 billion by 2021. The...

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12.12.2011

York - Tissue Regenix Group plc plans to raise €29m through the sale of 181.8 million shares. The regenerative medical device company is held within the IP Group portfolio and a spin-out company from the University of Leeds. The...

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11.12.2011

London – Cancer Research UK has begun recruiting patients in the first phase of its Stratified Medicine Programme, which is aimed at finding cancer biomarkers and establishing a genetic testing service in the UK. The charity’s...

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06.12.2011

London – British Prime Minister David Cameron is trying to come to the rescue of Britain’s embattled biopharmaceutical industry. He has earmarked €210m to support a “biomedical catalyst fund” to back early-stage academic and...

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06.12.2011

London - David Cameron plans to come to the rescue of Britain's embattled biopharmaceutical industry. The conservative prime minister has earmarked £180m (€210 million) to support a "biomedical catalyst fund" to back ...

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25.11.2011

Cancer Research UK has started recruiting patients in the first phase of its Stratified Medicine Program, which is seeking to find cancer biomarkers and establish a genetic testing service in the U.K. The charity's multi-million...

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24.11.2011

London – The European Medicines Agency has recalled all batches of the cancer drugs Busilvex, Velcade and Vidaza manufactured at Boehringer Ingelheim’s Ben Venue Laboratories facility in Bedford, Ohio, from the European market....

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