Significant doubts about Welsh Government handling of Biotech VC fund

09/03/2016 - 3 minutes

The Wales Life Sciences Fund was intended to attract Biotechs and Pharma to this part of the UK – but the governmental oversight of the establishment of this £50M fund has been criticised in a report by the Wales Audit Office…

[Editor’s note: this article was initially published on March 7th, 2016. Due to some inaccuracies, we decided to make some corrections and publish it again on March 9th] 

wales_life_sciences_investment_fund_finance_wells_wao_Governmental funds are becoming increasingly common in the Biotech field, like the recent Italian fund for sustainable biotechnology in agriculture. We have also discussed the role of Life Science public Funds (albeit with some skepticism) in France and London.

Set up in 2012, the Wales Life Sciences Investment Fund received £50M from Finance Wales, a Cardiff-based investment company that belongs to the Welsh government.

As of now, the fund has been successfully managed by Arthurian Life Sciences, a VC firm directed (and mostly owned) by Biotech entrepreneur Professor Sir Chris Evans. 

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