USA investor studies launching US$ 200 million fund for project in the country
Valor Econômico - 06/02/2008
After the Federal Supreme Court (STF) approved the embryonic stem cell researches we see the first signs that there may be no lack of funds. Burril & Company, one of the greatest investors in biotechnology of the United States, plans to launch a risk capital fund with US$ 200 million to US$ 300 million, to invest in innovation in life sciences (health, biotechnology and agriculture) in Brazil. The information is from Brazilian scientist Gabriela Cezar, one of the partners of the fund, professor of the University of Wisconsin-Madison and partner of the Stemina biotechnology company. Chaired by Steve Burrill, one of the most influent men of the American biotechnology sector, Burril & Company headquartered in San Francisco, manages US$ 950 million invested in companies of the sector. According to Gabriela, the purpose of the fund, which will be a hybrid fund formed by private equity and venture capital, is to finance companies that arise from researches developed in the universities, besides transferring technology from the USA to Brazil. "The creation of companies is the most direct way to turn laboratory discoveries into products", told the scientist to Valor. "It intends not only to benefit the patients, but also to generate development for the country". The scientist says the sector generates US$ 6 billion in sales only for the State of Wisconsin, where there are 150 companies.