London Mayor Boris Johnson today invited biopharmas, investors, and other stakeholders to discuss his proposal for a £10 billion ($15 billion) “megafund” intended to support drug development in his city and across the U.K.
The megafund—to consist of debt and equity financing—is designed to close the U.K.’s funding gap with the U.S. So too is another biotech funding proposal to be discussed: Tapping into the seven-year, €24 billion ($26.9 billion) “InnovFin-EU Finance for Innovations” program announced last year by the European Commission and the European Investment Bank (EIB).
