GlaxoSmithKline Plc (GSK) and Johnson & Johnson (JNJ) are forming a $200 million fund with Index Ventures to invest in early-stage biotechnology companies, a move that may entice venture capitalists back to the industry.
Glaxo and New Brunswick, New Jersey-based J&J will each put in $50 million, while Index Ventures will contribute $100 million and make investment decisions, the two drugmakers and the venture-capital firm said today. Moncef Slaoui, head of research and development at London-based Glaxo, and Paul Stoffels, J&J’s chairman of pharmaceuticals, will sit on the fund’s advisory board.
To read the full, original article click on this link: Glaxo Joins J&J in $200 Million Fund With Index Ventures - Bloomberg
