Biotech chief shifts investment focus

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“We are changing the Merlin brand to reflect the move from early-stage biotechnology and our interest in the later stages of research,” Sir Christopher said.

The biotechnology sector was dealt another blow on Wednesday after Sir Christopher Evans, the biotechnology entrepreneur caught up in the cash-for-honours investigation, said he was starting a new investment firm that would not fund early-stage biotech companies.

Merlin Biosciences, the name of Sir Christopher’s venture capital firm known for providing much-needed seed funding to the industry, is being scrapped and its three funds are being transferred to a new company called Excalibur, which will provide services from venture capital to corporate finance and private equity.

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