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Wellcome Trust Starts $326 Million Health Investment Arm

The Wellcome Trust, the world’s second-largest biomedical charity, said it started an investment arm with 200 million pounds ($326 million) of initial capital to back biotechnology startups.

The Syncona Partners LLP unit will support new businesses in the medical-device, therapeutics, diagnostics and information-technology industries, London-based Wellcome said today in a statement. Long-term investments will amount to 1 million pounds to 20 million pounds each, it said.