London’s rapidly growing life sciences industry yesterday received a major boost from US venture capital fund Sandbox Industries.

London’s rapidly growing life sciences industry yesterday received a major boost from US venture capital fund Sandbox Industries.

 In an exciting move for the capital, Boston based Sandbox has announced the creation of Europe’s first healthcare accelerator fund. The fund, to be based in east London, will provide each of 10 healthcare entrepreneurs, with £75,000 of seed capital and connections to a network of private medical providers, investors and NHS stakeholders.

Healthbox, as the new fund is named, is backed, inter alia, by BUPA and Serco. Mayor Boris Johnson commented on Healthbox’s commitment to London as “recognising London as Europe’s science and technology capital with access to premier academic centres, hospitals and the largest cluster of life sciences businesses.”

Catherine McLoughlin, partner in our London office, commented that this is a very positive development for London’s healthcare industry. “It will bring fresh capital to smaller companies in a sector that has sometimes found it difficult to attract funding in face of competition from the more high profile and “sexy” tech companies.”

Read more about Pannone’s expertise in acting for companies in the life sciences sector on our website. Catherine can be contacted in our London office on 0800 840 4929.

Contact: Catherine McLoughlin

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