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Glaxosmithkline Plc Launches $50 Million Venture Capital Fund-DJ

Thursday, 8 Aug 2013 03:36am EDT 

Dow Jones reported that Glaxosmithkline Plc said it has launched Action Potential Venture Capital Ltd., a new $50 million strategic venture capital fund that will invest in companies that pioneer bioelectronic medicines and technologies. Action Potential Venture Capital intends to build a portfolio of five to seven companies over the next five years. The fund will focus investments in three areas: New start-up companies that aim to pursue the vision of bioelectronic medicines; Existing companies with technologies that are interacting with the peripheral nervous system through first-generation devices that can stimulate or block electrical impulses; and Companies advancing technology platforms that will underpin these treatment modalities. Fund has named Imran Eba as its first partner.