{"id":8595,"date":"2012-03-15T10:20:54","date_gmt":"2012-03-15T14:20:54","guid":{"rendered":"http:\/\/sciencebusiness.technewslit.com\/?p=8595"},"modified":"2012-03-15T10:20:54","modified_gmt":"2012-03-15T14:20:54","slug":"irish-govt-to-fund-u-s-life-sciences-vc-presence-in-ireland","status":"publish","type":"post","link":"https:\/\/technewslit.com\/sciencebusiness\/?p=8595","title":{"rendered":"Irish Govt to Fund U.S. Life Sciences VC Presence in Ireland"},"content":{"rendered":"<figure id=\"attachment_8597\" aria-describedby=\"caption-attachment-8597\" style=\"width: 300px\" class=\"wp-caption alignright\"><a href=\"http:\/\/technewslit.com\/sciencebusiness\/wp-content\/uploads\/2012\/03\/RichardBruton_EnterpriseIreland.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-8597\" title=\"RichardBruton_EnterpriseIreland\" src=\"http:\/\/technewslit.com\/sciencebusiness\/wp-content\/uploads\/2012\/03\/RichardBruton_EnterpriseIreland.jpg\" alt=\"Richard Bruton in Silicon Valley (Enterprise Ireland)\" width=\"300\" height=\"233\" srcset=\"https:\/\/technewslit.com\/sciencebusiness\/wp-content\/uploads\/2012\/03\/RichardBruton_EnterpriseIreland.jpg 300w, https:\/\/technewslit.com\/sciencebusiness\/wp-content\/uploads\/2012\/03\/RichardBruton_EnterpriseIreland-150x116.jpg 150w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><figcaption id=\"caption-attachment-8597\" class=\"wp-caption-text\">Richard Bruton in Silicon Valley (Enterprise Ireland)<\/figcaption><\/figure>\n<p>The government of Ireland plans to <a href=\"http:\/\/www.enterprise-ireland.com\/en\/News\/PressReleases\/2012-Press-Releases\/Minister-Bruton-announces-Innovation-Fund-Ireland-investment-of-$37-5million-with-Sofinnova-Ventures,-a-leading-US-healthcare-venture-capital-fund.html\">invest $37.5 million<\/a> in Sofinnova Ventures, a venture capital firm in Menlo Park, California that supports start-ups in the health care field, for the company to establish a presence in Ireland. Ireland&#8217;s Minister for Jobs, Enterprise and Innovation, Richard Bruton (pictured right) made the announcement today during a <a href=\"http:\/\/www.enterprise-ireland.com\/en\/News\/PressReleases\/2012-Press-Releases\/Minister-Bruton-on-5-day-trade,-investment-and-St-Patrick%E2%80%99s-Day-trip-to-USA.html\">visit to California&#8217;s Silicon Valley<\/a>.<\/p>\n<p>Enterprise Ireland, that supports Irish companies in world markets, will supply $25 million of the investment. Ireland&#8217;s National Pensions Reserve Fund is expected to fund the remaining $12.5 million.<\/p>\n<p><a href=\"http:\/\/www.sofinnova.com\/index.php?nav0=firm\">Sofinnova Ventures<\/a> invests in new companies offering biopharmaceutical products, usually in clinical and late preclinical stages of development. The company says it looks to invest in spin-off or technology-based products with a strong research base that meet previously unmet medical needs.<\/p>\n<p>In October 2011, Sofinnova announced its latest fund, <a href=\"http:\/\/www.sofinnova.com\/news_detail.php?id=401\">Sofinnova Venture Partners VIII<\/a>, that raised $440 million for life sciences investments. One company in the Sofinnova portfolio is <a href=\"http:\/\/www.amarincorp.com\/index.html\">Amarin Corporation<\/a> in Dublin, a clinical stage company developing treatments for hypertriglyceridemia, a condition of elevated fats related to cholesterol in the blood.<\/p>\n<p>&#8220;I am determined that, with implementation of good government policies, we will see further development of a dynamic venture capital industry in Ireland,&#8221; says Bruton. &#8220;In this way, high-growth Irish companies will have access to the funding they need and we can help achieve the levels of growth we so badly need.&#8221;<\/p>\n<p>Read more:\u00a0<a href=\"http:\/\/sciencebusiness.technewslit.com\/?p=6515\">Venture Firm Raises $440 Million for Life Sciences<\/a><\/p>\n<p style=\"text-align: center;\">*\u00a0\u00a0\u00a0\u00a0 *\u00a0\u00a0\u00a0\u00a0 *<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The government of Ireland plans to invest $37.5 million in Sofinnova Ventures, a venture capital firm in Menlo Park, California that supports start-ups in the health care field, for the company to establish a presence in Ireland. Ireland&#8217;s Minister for Jobs, Enterprise and Innovation, Richard Bruton (pictured right) made the announcement today during a visit [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[31,74,23,45,24,19],"class_list":["post-8595","post","type-post","status-publish","format-standard","hentry","category-finance","tag-biomedical","tag-entrepreneurs","tag-equity","tag-europe","tag-investment","tag-venture-capital"],"_links":{"self":[{"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=\/wp\/v2\/posts\/8595","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8595"}],"version-history":[{"count":4,"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=\/wp\/v2\/posts\/8595\/revisions"}],"predecessor-version":[{"id":8600,"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=\/wp\/v2\/posts\/8595\/revisions\/8600"}],"wp:attachment":[{"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8595"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8595"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8595"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}