£1bn Investment Fund To Come For Life Science Sector?

Early and late-stage healthcare companies in the life sciences sector could soon take advantage of an investment fund worth up to £1 billion thanks to a new partnership between subsidiary of the Wellcome Trust Syncona and investment company BACIT.

If the proposal to combine the two is accepted, the group – likely to take the Syncona name – will see around £100 million invested annually, with Wellcome owning between 30 and 35 per cent of the shares in the enlarged company.

Syncona itself was set up back in 2012 to help tackle the lack of long-term funding for biotech in the UK and to create a team of experts to establish and run healthcare companies revolving around life science technology and innovation.

This particular transaction would see BACIT and Syncona come together alongside investment from Cancer Research UK, which will also work closely with the companies in the future to access a range of oncology opportunities.

“[Syncona] has already achieved great things, and this proposal, which will see it align with BACIT and Cancer Research UK, will allow it to spread its wings and expand its horizons further. We see this as a logical next step for Syncona and we look forward to watching it, and the companies it supports, expand and prosper,” Wellcome director Dr Jeremy Farrar said.

Chief executive officer of Syncona Martin Murphy made further comments, saying that long-term capital is required if the UK is to maintain its position as a world leader in life science innovation. Companies need to be supported from inception right through to the commercialisation of their products.

For help with life science marketing, get in touch with us at Voicentric today.