The [Irish] government has announced a new €85 million venture capital for the life sciences sector.

The fund, which will be managed by Fountain Healthcare Partners, received €15 million from Enterprise Ireland with the rest coming from institutional investors through the Irish Strategic Investment Fund and the European Investment Fund.

The fund, which expects to make 10 to 15 investments over its lifetime, will invest in specialty pharmaceuticals, biotechnology and medical devices and diagnostics.

Jobs Minister Richard Bruton said the new funds would “increase the availability of funding for the innovative Irish life sciences companies we are trying to support – and help them grow faster and ultimately create the jobs we need right around the country”.

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