AstraZeneca sketches plans for a $1B venture fund — and it's going to China
Going down an increasingly trodden path to the world’s second largest healthcare market, AstraZeneca is helping set up a life sciences fund to groom China startups that could turn into potential partners.
CEO Pascal Soriot has outlined his vision for a $1 billion haul to be gathered over the next four years, the Wall Street Journal first reported. The short-term goal for this year is to raise $200 million to $300 million, and firms such as Sequoia Capital and Temasek have already expressed interest.
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