Biotech Fund Flanders

The Fund was established in 1994 to provide investment support for emerging biotech companies in the region and over its first 10 years invested some 36.3 million euro in businesses that ranged from Plant Genetic Systems, Innogenetics, Devgen and, most recently, Galapagos, a new listing on the stock exchange. Biotech Fund Flanders, whose portfolio and investment policy were managed by the Governmentâ€:tm:s investment agency GIMV, was due to close investment activities after 10 years and perform only follow-up tasks until 2009. The Minister for the Economy, Fientje Moerman, has announced, however, that it will continue to operate until 2010. No additional money will be made available – the Fund has some 12 million euro of its own resources from sales of previously held shares and is to recycle this and other returns. Its current portfolio includes investments valued at 19.7 million euro in six companies