Glaxo Joins J&J in $200 Million Index Ventures Biotech Fund
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GlaxoSmithKline Plc and Johnson & Johnson are forming a $200 million fund with Index Ventures to invest in early-stage biotechnology companies, a move that may entice venture capitalists back to the industry.
Glaxo and New Brunswick, New Jersey-based J&J will each put in $50 million, while Index Ventures will contribute $100 million and make investment decisions, the two drugmakers and the venture-capital firm said today. Moncef Slaoui, head of research and development at London-based Glaxo, and Paul Stoffels, J&J’s chairman of pharmaceuticals, will sit on the fund’s advisory board.