New health technology fund launches

New companies hoping to make a contribution to the study of major diseases and technologies to treat them are set to benefit from a multi-million pound investment scheme.

The £50m venture capital fund, which has been set up by Scotland-based Rock Spring Ventures, wants to highlight the importance of funding research into life sciences and to foster wider knowledge of the health technology sector.

New companies working towards the treatment of major diseases or specialist providers to the healthcare industry which develop technologies to treat them will benefit from the investment fund.

International investors are responsible for providing half of the £50 million target, with the European Investment Fund, Scottish Enterprise, Strathclyde Pension Fund, Rock Spring Ventures, and the universities of Glasgow, Edinburgh and Aberdeen all supporting the project financially.

The most promising projects being pursued within universities will be selected for financial support by the new fund.