Lilly sets up $50 million venture fund for medtech:
This article was originally published in Clinica
A new venture capital fund targeting medical technology companies has been established by Eli Lilly. The Indianapolis, Indiana-based pharmaceutical group is seeking to invest $50m in placements of up to $5m. Its focus is a broad one: companies developing emerging and innovative technologies in the fields of diagnostics and therapeutic devices, as well as products combining pharmaceuticals, medical devices and/or diagnostics. Although Lilly has expertise in drug delivery, it is no longer the medtech heavyweight it once was. In the mid-1990s it decided to focus on pharmaceuticals, setting up Guidant to accommodate its medical device activities and divesting other non-pharma assets separately.