NEW YORK, Sept. 20 – Eli Lilly has formed a new $75 million venture capital fund, Lilly BioVentures, that will invest in early-stage biotechnology companies, Lilly said Thursday.  

The venture capital group will make initial investments of up to $5 million in companies developing new biotechnology or biopharmaceutical technologies, and companies developing new or improved platforms for drug discovery, Lilly said.

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US News & World Report writes that genetic testing of lung tumors can help identify treatments for patients.

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