MRC Establishes Venture Capital Fund to Fuel Biotechnology Startups

Dec 21, 1998

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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.

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