ARTICLE | Finance

Lilly's venture molecules

Lilly commits excess assets and up to $150M to three VC funds

September 13, 2010 7:00 AM UTC

After engaging in a VC beauty contest, Eli Lilly and Co. (NYSE:LLY) has picked three new venture funds to seed with the pharma's excess molecules as well as cash.

Each venture firm has agreed to cap its fund at $250 million and Lilly has committed to provide up to 20% of the total capital in each fund, spokesperson Mark Taylor told Ebb & Flow...