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Index Ventures Spins Off Biotech Investment Arm Into New Firm

  • Medicxi Ventures will have $750 million under management
  • Firm closes new early-stage biotech fund with Glaxo, J&J

Index Ventures, best known for funding startups like Skype and the creator of the Candy Crush Saga online game, is spinning off its biotechnology investments into a new venture-capital firm.

Medicxi Ventures will be one of the largest firms of its kind in Europe with $750 million under management, including a new 210 million-euro ($230 million) fund formed with London-based GlaxoSmithKline Plc and Johnson & Johnson of New Brunswick, New Jersey. The two pharmaceutical giants will each put in 25 percent of the total amount, and Medicxi will make the final investment decisions, the firm said in a statement Tuesday.