News Article

20m Life Sciences Fund Launches

26 May 2022

A new £20m life sciences fund has been launched to support SMEs in Greater Manchester, Cheshire and Warrington.

The ‘GMC Life Sciences Fund By Praetura’ – a partnership between Greater Manchester Combined Authority (GMCA), Cheshire and Warrington Local Enterprise Partnership (LEP), Bruntwood SciTech and Praetura Ventures – will combine capital, expertise and resources to help investee companies to scale.

GMCA has committed £10m to the fund, while Cheshire and Warrington LEP and Bruntwood SciTech have both committed £5m to continue to build on the North West’s cluster of clinical, academic and commercial life sciences assets, companies and expertise.

The fund will offer investment of £50,000-£2m to early-stage businesses and SMEs that are located in Greater Manchester, Cheshire or Warrington, or those that commit to relocating their operations there.

The fund will be launched with an initial £20m with the aim of supporting innovation, creating more skilled jobs and helping businesses to expand internationally.

The North West life science sector currently employs more than 28,000 people and is a key pillar of growth for the knowledge economy. It is recognised locally and nationally as a leading example of collaboration between research, academic spin outs and private commercialisation and is home to globally renowned universities and companies, and fast-growing entrepreneurial businesses.

Read more at: The Business Desk