BioSpace Collaborative

Academic/Biomedical Research
News & Jobs
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  C2C Services & Suppliers™
Europe
Asia

DIVERSITY

PROFILES
Company Profiles

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Research Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
Get Our Industry eNewsletter FREE email:    
   

GlaxoSmithKline (GSK) Invests $50 Million in Biotech Startup Venture Fund to Fatten Up Drug Pipeline


1/10/2013 8:46:32 AM

GlaxoSmithKline is looking to fatten its drug pipeline through another venture capital investment with a $50 million commitment to a California fund. The drug giant on Wednesday said it would invest in the $250 million Sanderling Biotech Venture Fund. The fund will be managed out of San Mateo, Calif. The commitment is one of several made by GSK (NYS: GSK) to several funds focused on helping emerging and early-stage companies advancing potential drug candidates. GSK Chief Executive Officer Andrew Witty's growth strategy calls for Glaxo to rely more on investments and partners in seeking new products. Melinda Stubbee, a GSK spokeswoman, confirmed the investment with Bloomberg in a phone interview. Glaxo, the only large pharmaceutical company investing in the fund, will have a seat on the limited partner advisory committee, she said. The new fund fills a geographic gap in Glaxo’s early-stage investments, which include funds on the East Coast, in Europe and in Canada, Stubbee said. It also serves to encourage innovation in an area where investments have dwindled, given risks and long-term horizons for returns. “Venture money has really dried up since the economy has suffered,” she said.

Read at News Release


   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES
 

//-->