Irish boosting biotech funds

In a move to promote basic scientific research in Ireland, the Irish government established a E711 million ($687 million) fund for biotechnology, information and communication technologies, to be distributed over the next six years. About half of this money is likely go to biotechnology, a significant boost from the E9 million a year the government has spent in the past.

According to Jim Ryan, director of BioResearch Ireland, the national biotechnology transfer agency, "what we were missing was a significant R&D base. This provides basic research funding where we were lacking before." The money will be directed at academic and startup company researchers, who will have to apply for funds through a peer review process...