Life science boosted with venture capital fund

Rock Spring Ventures will launch a £50 million venture capital fund to invest in life science companies spun out of UK universities. The fund aims to provide ‘mission-related investment’ to help university spin-outs after their initial funding comes to an end.
Rock Spring Ventures said it had already secured commitments worth more than £25 million from investors. Some of the reported backers include Scottish Universities Aberdeen, Glasgow and Edinburgh.
The BioIndustry Association (BIA, the trade association for innovative enterprises involved in UK bioscience, welcomed the plans.
Steve Bates, BIA Chief Executive Office, said: "This new funding for fledgling life science companies in the UK is another boost for the UK biotech sector as a whole. I am pleased that Rock Spring Ventures understands the potential value of bioscience in the UK. Their £50 million investment, alongside government initiatives like the Biomedical Catalyst and changes to R&D tax credits and other recently launched venture funding initiatives, demonstrates that there is now an increasingly positive environment for start up life science firms in the UK.”