Epidarex's gilded Lilly

Epidarex Capital expects the addition of Eli Lilly and Co. (NYSE:LLY) as an LP in the firm's early-stage VC fund will bring more than just capital. The pharma will offer drug discovery capabilities to portfolio companies and the potential for early stage partnerships.

Last week, the VC announced a final close of £47.5 million ($80.3 million) for Epidarex Capital II, which will invest in life sciences and health technology companies in the U.K. Lilly and King's College London joined as LPs following a £26 million ($41.3 million) first close in January 2013 that included three Scottish universities, Scottish Investment Bank, Strathclyde Pension Fund and the European Investment Fund (see BioCentury, Jan. 28, 2013)...