UK-based investment manager Neil Woodford is set to launch a new fund in 2015 targeted at small biotechnology companies which are not listed on the stock exchange.
Woodford has already invested in Oxford Nanopore, a 2005-established unquoted UK bioscience group, via the Woodford Equity Income fund he launched in June, a month after launching Woodford Investment Management.
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At the same time, he holds a £16m stake in Northwest Biotherapeutics, which is a US firm dealing with brain tumour treatments.
The new fund is likely to be a closed-end investment trust capped at almost £200m which is better suited for the riskier unquoted firms by helping provide permanent capital and allowing investors to exit only by selling their stake to another investor.
Expressing his desire to invest in more UK and US life science groups, Woordford said, "We have some world-class life science companies in the UK, but some of Britain’s most talented entrepreneurs end up in the US because they cannot get the financial backing here."
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