London Mayor Boris Johnson is proposing a 10 billion-pound ($16 billion) fund to encourage growth of emerging health-care companies in the U.K. in an effort to catch up to biotechnology clusters in the U.S.
The so-called megafund, to be discussed Thursday with banks and drugmakers Eli Lilly & Co. and Pfizer Inc., may be created by a mix of debt and equity finance, the mayor’s office said in a statement. A program jointly established by the European Union and the European Investment Bank to make more than 24 billion euros ($27 billion) available over the next seven years may also be tapped.
Help employers find you! Check out all the jobs and post your resume.
