Trust provides £200 million to create Syncona, which will support innovative healthcare businesses
The Wellcome Trust has provided £200 million to launch an investment company that aims to support innovative healthcare businesses with the potential to transform the markets in which they operate.
The investment company, plans for which were revealed in March 2012, will operate as ‘Syncona’ and look to make investments in the £1–20 million range as a majority investor or as part of a syndicate.
Syncona chief executive Martin Murphy said: ‘We expect to play our part in building successful businesses based upon innovation within the life science and healthcare industry. We very much look forward to working with entrepreneurs, leading academics and inventors to build success stories in the UK, Europe and beyond.’
The Wellcome Trust is one of the largest charitable foundations in the world, spending £600 million per year to support biomedical research and the medical humanities.