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Large Non-Profit Foundations Serve As Important Funding Sources For, Can Profit From Biotech Start-Ups

Reuters: How Wellcome and Gates charities profit from helping biotech
“The Wellcome Trust medical charity is to profit from U.S. approval of a new diagnostic cancer test, the first commercial product funded by the organization since the sale of its pharmaceuticals business to Glaxo in 1995. The regulatory green light shows how the world’s health care leading charities are becoming important sources of finance for biotech start-ups and can gain when the young firms they back succeed…” (Hirschler, 5/30).