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Biogen Idec shutters VC fund as part of refocus on internal R&D

February 6, 2012 8:00 AM UTC

While Biogen Idec Inc. (NASDAQ:BIIB) was busy rebooting its R&D last year, the biotech was also quietly shutting down its Biogen Idec New Ventures fund.

The decision coincided with the biotech's addition of Douglas Williams as EVP of R&D and Steven Holtzman as EVP of corporate development, part of a new management team charged with pruning the company's pipeline and focusing resources on assets that play to its strengths (see BioCentury, Aug. 29, 2011). ...