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Japan's Ruling Party Proposes ¥20 Billion Funding To Support Biotech Venture Companies

This article was originally published in PharmAsia News

Executive Summary

A policy team of Japan's ruling Liberal Democratic Party proposes establishing a fund to support biotech venture companies and accelerate new drug development. The ¥20 billion proposal, to be jointly funded by public and private sectors, is to select 10 companies and invest ¥2 billion in each. After the companies are profitable the fund will sell holding shares and benefit from the sales. Biotech veterans from university research facilities and pharmaceutical companies will select the candidates. (Click here for more - Japanese language) "LDP Proposes A ¥20 Billion Fund To Support Biotech Venture Companies" - Fuji Sankei Business News (6/17/08)

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