Lilly And Canadian VCs To Fund TVM Life Sciences VII To Develop Single-Asset Companies
This article was originally published in The Pink Sheet Daily
Lilly and Canadian VCs back a new TVM Life Sciences fund that will invest in a network of single-asset companies in Quebec.
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The biopharma industry enjoyed regulatory success in 2012 that was recognized by investors. The stench from the carcasses of industry’s genericized blockbusters has begun to fade, but R&D productivity for the most part remains poor, expensive late-stage failures abound, and industry is still searching for sustainable business models.
Sweden’s publicly traded Karolinska Development AB has turned a close relationship with one of Europe’s top biomedical research institutions into an investment portfolio of two dozen biotech assets, all built as virtual companies. It’s a twist on the asset financing model that’s gaining attention among biopharma VCs, but KD needs a sale or two soon to make its version work.
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