France launches 100 million euros biotech fund

France launches 100 million euros biotech fund


The French government has agreed to launch a 100 million euros fund aimed at promoting early-stage biotechnology companies, Prime Minister Edouard Philippe said on Tuesday. French state bank BpiFrance will contribute 50 million euros to the venture with drugmaker Sanofi committing to another 50 million, the government said, adding the size of the fund could then reach some 250 million euros depending on interest expressed by other potential investors.



from Biotech News