GlaxoSmithKline (GSK), a UK-listed drugs company, has set aside £50m ($78m) to launch a corporate venturing fund for the country’s early-stage healthcare companies and spin-outs from universities.

The UK Venture Capital Fund will be part of GSK’s existing corporate venturing unit, SR One, and is similar in scope to semiconductor company Intel’s launch of regional funds and leadership of the $3.5bn Intel Invest in America Alliance. 

Founded in 1985, SR One has invested more than $600m in biotech companies…

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