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.”

UKUK

19.08.2011

Brussels – While worldwide stock exchanges took a beating in late July and early August, European biotech stocks plunged even more. Stocks of majors like Roche, Novartis and GSK lost more than 10% in the first week of the month,...

Austria, UKUK

17.08.2011

London/Pasching –GE Healthcare vamps up its biopharmaceutical capabilities. The U.K. based unit of the U.S. technology giant General Electric, announced that it has reached an agreement to acquire the Austrian PAA Laboratories....

UKUK

16.08.2011

London – The International Multiple Sclerosis Genetics Consortium, led by the Universities of Cambridge and Oxford and funded by the Wellcome Trust, has identified 29 new genetic variations linked to multiple sclerosis (MS). The...

UKUK

16.08.2011

London – A consortium led by British gene medicince company Ark Therapeutics Group plc has received a EUR5.3m grant from the European Commission’s 7th Framework Programme to fund research to combine Ark’s technology covering...

UKUK

09.08.2011

London - Patents on biomarkers are necessary to encourage innovation and investment in the UK DNA diagnostics market. This is the conclusion of a report from the UK Human Genetics Commission. The paper "Intellectual Property and...

UKUK

15.07.2011

London/Rockville - GlaxoSmithKline and its American partner Human Genome Sciences, Inc. announced today that the European Commission has granted marketing authorisation for belimumab (Benlysta) as an add-on therapy in adult...

UKUK

07.07.2011

The British analytics specialist LGC Ltd. will buy its peer, KBioscience, for an undisclosed sum. The acquisition of KBioscience brings LGC expertise in genotyping services, chemistry and complements its genomic services...

Displaying results 31 to 40 out of 396

< Previous 31-40 Next >

© 2007-2014 BIOCOM

http://www.european-biotechnology-news.com/nc/news/messages-archive/archive-uk/browse/3/article/wellcome-trust-launches-venture-capital-arm.html

Product of the week

Products

Events

All Events

Current issue

All issues