PRINT THIS PAGE US Lilly launches third venture capital fund13/01/2004. Source: AltAssets. 
 US Eli Lilly & Company has announced the formation of the Lilly MedTech Venture Fund. With an initial commitment of $50m, the fund will invest in companies developing emerging and innovative technologies in the medical technology field.
Lilly MedTech is the third venture capital fund under the management of Lilly Ventures, the corporate venture arm of Lilly. The fund is to make initial investments of up to $5m per company and will focus in the areas of diagnostics, and therapeutic devices.
‘Our goal is to provide capital and industry expertise to accelerate the path to success and generate long-term capital gains for our portfolio companies and their investors,’ added Nick Colangelo, a managing director for Lilly Ventures. ‘Lilly’s deep scientific and medical expertise, together with its significant experience in the drug delivery field, positions Lilly Ventures to capitalise on the potential presented by the convergence of treatment modalities.’
Copyright © 2004 AltAssets
|
