The Woodford effect

Woodford Investment Management LLP's latest fund should bring a fresh injection of capital into the U.K.'s life sciences sector, as strong demand prompted the firm to boost the maximum size of Woodford Patient Capital Trust plc.

On April 9, Woodford published a supplementary prospectus noting that demand from both retail and institutional investors had prompted the firm to increase the maximum size of the Patient Capital fund to £800 million ($1.2 billion) from £500 million ($746.6 million). The prospectus noted the fund had already exceeded its initial target of £200 million ($300.9 million), which was set in February...