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Quark to set up “largest biotechnology fund in Canada” for $500m

pharmafile | October 18, 2016 | News story | Manufacturing and Production, Research and Development Canada, Quark Venture, Vancouver, fund 

Canadian venture capital firm Quark Venture is to partner up with China’s GF Securities to launch a “largest of its kind” biotechnology fund in the country, with the price tag coming to US$500 million.

The Global Health Sciences Fund will target “best-in-the-world biotechnology” and is designed to stimulate the fields of drug development, health IT, medical devices and other technologies in the region.

“The decision to make Vancouver the headquarters for Quark Venture and the Global Health Sciences Fund validates Canadian innovation, the strength of the life science industry here and the quality of its technologies,” said Quark CEO Karimah Es Sabar. “We anticipate that internationally competitive Canadian companies will do well having a fund of this size and calibre at their doorstep and we believe such a fund will energise the sector and be a magnet for further capital.”

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Quark also announced its investment of US$30 million last week in Vancouver-based pharmaceutical firm Methylation Sciences.

Matt Fellows

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