GSK launches $50-million Canadian VC fund

GlaxoSmithKline (GSK) has launched a $50-million venture capital fund to invest in early-stage, breakthrough research emanating from Canadian life sciences research institutions and start-up companies. The fund will be managed by SR One, GSK's venture capital arm, which will assess opportunities in research from academic and health institutions, translational research centres and early-stage firms. Since 1985, SR One has invested $650 million in 140 companies. According to Research Infosource, GSK spent $120.9 million on R&D in Canada in 2010, down 18.2% from $147.8 million in 2009….