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BIA Suggests New Venture Capital Fund To Invest In UK Biotech

The BioIndustry Association (BIA) has called on the government to introduce a new venture capital fund structure that will give the public the opportunity to be partners in the UK’s biotech revolution. The fund should be based on the successful Enterprise Innovation Scheme (EIS) and include a new “Holding Relief”, which will reward individuals with further income tax relief if they stay invested in the long-term. The BIA argues that many existing venture capital funds are too bureaucratic for the general public and don’t invest in the UK’s growing cohort of innovative biotech companies. The BIA’s proposed fund structure would offer...