Skip to main content
Premium Trial:

Request an Annual Quote

MRC Establishes Venture Capital Fund to Fuel Biotechnology Startups

Premium

LONDON--The Medical Research Council (MRC) here has established a venture capital fund of between £30 million and £40 million to provide seed money for biotechnology startups. Companies that derive from MRC-sponsored research will receive 75 percent of the funding. While it has formed alliances with companies in the past, this is the MRC's first foray into backing new companies.

The enterprise, which will be called UK Medical Ventures Management, will be chaired by the MRC's David Owen. "The problem has been how to recruit management without having the money to develop a new venture," he commented. "The fund should overcome this. It will work alongside MRC's technology advances and should spark attractive developments which will prove profitable to the fund and foster successful MRC developments." Andrew Chapman of Hoare Govett, the fund's sponsor, added, "It is a significant step forward in establishing and growing biomedical research in Britain."

Filed under

The Scan

New Study Highlights Role of Genetics in ADHD

Researchers report in Nature Genetics on differences in genetic architecture between ADHD affecting children versus ADHD that persists into adulthood or is diagnosed in adults.

Study Highlights Pitfall of Large Gene Panels in Clinical Genomic Analysis

An analysis in Genetics in Medicine finds that as gene panels get larger, there is an increased chance of uncovering benign candidate variants.

Single-Cell Atlas of Drosophila Embryogenesis

A new paper in Science presents a single-cell atlas of fruit fly embryonic development over time.

Phage Cocktail Holds Promise for IBD

Researchers uncovered a combination phage therapy that targets Klebsiella pneumonia strains among individuals experiencing inflammatory bowel disease flare ups, as they report in Cell.