New angel investment initiative to boost funding for UK bioscience businesses
Emerging bioscience companies in the UK will have access to new sources of funding as a result of an initiative launched in London today to bring more investors into life sciences.
Angels in MedCity, launched by MedCity, London Business Angels and Angels4LifeSciences, follows the previous launch of Angels in the City, which has helped 39 companies raise more than £30 million ($48.3 million) of new investment since its launch in 2011. The year-long pilot program will create an Angels in MedCity community of investors supported through a program of free to attend investor workshops.
Focusing on drug therapies, digital health and medical device technologies, Angels in MedCity will bring potential investors together with life sciences experts. UK angels invest two to three times more than venture capitalists in early stage companies, with £1.07 billion invested in 2012 under the HMRC Enterprise Investment Scheme alone. However, only a tiny proportion of this is invested in health care and life sciences companies.
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