Mayor of London proposes £10 billion emerging biotech companies fund to invigorate British capital
The Mayor of London, Boris Johnson, has proposed a £10 billion ($15.7 billion) fund for emerging health care companies to encourage the British capital to rival biotech clusters in the USA.
The scheme was discussed on Thursday June 25 with banks, Eli Lilly (NYSE: LLY) and Pfizer (NYSE: PFE), and follows efforts by fund manager Neil Woodford to invest in UK companies with high growth potential by establishing the Woodford Patient Capital Trust.
The new biotech fund would be made up of a mix of debt and equity finance, while a fund created by the EU and European Investment bank to make over $26.9 billion available over the next seven years could also be employed.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Today's issue
Company Spotlight
More Features in Biotechnology
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze