BusinessNetherlandsUK

J&J and GSK back €150m investment

22.03.2012 - Two pharma majors have announced on BIO-Europe Spring (Amsterdam) to back the launch of a €150m life science investment fund, managed by Index Ventures.

The investment backed by Johnson&Johnson and GlaxoSmithKline represents a new pharmaceutical-VC partnership model intended to propel early stage pre-competitive innovation. The fund includes investments from several of Index’s largest existing limited partners, which can capitalise on the shared expertise of GSK and J&J through their participation in the fund’s scientific advisory board. “The endeavor we are taking to discover new drugs is enormous. It’s key for us to reach out to any new ideas anywhere in the world,” said Moncef Slaoui, Chairman R&D, GSK. “We need to capture the diversity of ideas and talent.” With the investment into early biotech research pharma companies want to fill the productivity gap in their own pipelines. According to figures published by Eli Lilly advisor Bernhard Munos in Forbes, pharma companies currently have to invest between US$4bn to US$11bn to bring a new entity to the market.

http://www.european-biotechnology-news.com/news/news/2012-01/jj-and-gsk-back-eur150m-investment.html

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No liability assumed, Date: 22.09.2014