Teralys Capital And Eli Lilly And Others Invest in Life Sciences Fund

Teralys Capital and Eli Lilly and Company have invested in a new $150m life sciences fund.

Teralys Capital has invested $65 million in TVM Life Science Ventures VII (TVM LSV VII), which will focus on early-stage drug development.

The investment joins others by partners such as Eli Lilly and Company and should benefit the entire life sciences industry in Canada.

Jacques Bernier, managing partner of Teralys Capital, said: "Along with our recent investments in Lumira Capital, this announcement further strengthens Quebec's position as a leader in life sciences and signals our desire to pioneer new investment models for sustainable value creation."

The fund closed on an initial size of $150 million and will see the creation of a Canadian unit of Chorus - an autonomous unit of Lilly - in M