Drug giant GSK spins out S.F.-based venture unit with $500M fund

The San Francisco-based venture fund of drug giant GlaxoSmithKline plc is stepping out on its own. SR One Capital Management is formally spinning out from GlaxoSmithKline (NYSE: GSK) with an oversubscribed $500 million fund targeting rare diseases to large diseases, cancer, immunology and neurodegenerative diseases. Those investments could include single-asset companies through platform technologies, said CEO Simeon George. The group, founded and funded solely by a GSK in 1985 as an autonomous…

Click to view original post