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AstraZeneca Commits An Additional $100 Million to Venture Capital Arm Medimmune Ventures

[ENP Newswire]

Published Date: November 30, 2011 12:01:00 AM EST

ENP Newswire - 30 November 2011

Release date- 28112011 - AstraZeneca today announced that it has committed an additional $100 million to its venture capital arm, MedImmune Ventures, increasing the total capital under management to $400 million.

MedImmune Ventures is an evergreen venture capital fund that focuses on equity investments in private companies in the areas of biopharmaceuticals, medical and healthcare technology.

'With the additional funding from AstraZeneca, we look forward to expanding our investment activities globally and across therapy areas. We believe that in the current financial environment, there is a growing role for corporate venture capital funds such as MedImmune Ventures,' said Ron Laufer, Senior Managing Director, MedImmune Ventures.

Simon Lowth, Chief Financial Officer, AstraZeneca said: 'We continue to support MedImmune Ventures strategy that combines commitment to advance science and technology in the life science industry while generating financial returns expected of venture capital funds.'

Additionally, AstraZeneca also announced that MedImmune Ventures has co-led the second round of financing for NeuProtect Pty Ltd, an Australian life science company specialised in the reduction of cardiac remodelling post myocardial infarction. Ron Laufer said: 'We are delighted to co-lead with Starfish Ventures a new round of financing for NeuProtect Pty Ltd, our first investment in an Australian company.'

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Posted: November 2011