New Vancouver-based fund has $100M to invest in biotech; FDA hands out $23M in rare disease R&D grants
The Chinese investment bank GF Securities has teamed with Quark Venture in Vancouver to launch a new biotech fund, starting with $100 million with plans to bulk that up to $500 million. Quark invested $30 million in Methylation Sciences recently, backing their work on new drugs for depression. And the fund has plans to invest in a range of drug developers, device companies, health IT and more, looking to make deals around the world, according to a statement put out by the company.
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