Advertisement

We need your help now

Support from readers like you keeps The Journal open.

You are visiting us because we have something you value. Independent, unbiased news that tells the truth. Advertising revenue goes some way to support our mission, but this year it has not been enough.

If you've seen value in our reporting, please contribute what you can, so we can continue to produce accurate and meaningful journalism. For everyone who needs it.

Shutterstock/Matej Kastelic
Support

New €85 million fund for life sciences to create jobs and investment

The State has invested more than €15 million to the fund.

AN €85 MILLION FUND for emerging companies in the life sciences sector has been launched.

It’s hoped that the fund will help create dozens of jobs in Ireland – it’s expected to make 10-15 investments in specialty pharmaceuticals, biotechnology, medical devices and diagnostics.

The State has invested more than €15 million to the Fountain Healthcare Partners second fund – the majority of money came from institutional investors.

Making the announcement the Minister for Jobs, Enterprise and Innovation, Richard Bruton said: “To support more innovative and internationally oriented start-ups that can go fast to market and scale, we must increase the availability of venture capital to facilitate company growth and job creation.

This will increase the availability of funding for the innovative Irish life sciences companies we are trying to support – and help them grow faster and ultimately create the jobs we need right around the country.

The fund is the first to be announced as part of the Enterprise Ireland Seed and Venture Capital Scheme 2013-2018.

Read: New €85m research facility supporting 175 jobs opens in Sligo>

Read: Venture capitalists set up in Dublin to provide €172 million to Life Sciences sector>

Your Voice
Readers Comments
3
    Submit a report
    Please help us understand how this comment violates our community guidelines.
    Thank you for the feedback
    Your feedback has been sent to our team for review.