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GSK and J&J back $1 billion biotech spin-off from Index Ventures

2016-02-02 13:41:59| Biotech - Topix.net

Index Ventures, an early investor in technology hits like Skype and Dropbox, is spinning off its biotech portfolio into a new $1 billion business, with backing from drug giants GlaxoSmithKline The new Medicxi Ventures business will be led by the existing life sciences team from Index Ventures and includes all the current biotech portfolio companies. Medicxi said on Tuesday it had raised 210 million euros for a new fund focused on early-stage life sciences investments in Europe, with GSK and J&J each contributing 25 percent.

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Category:Biotechnology and Pharmaceuticals

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