Merlin under investigation

The U.K.'s Serious Fraud Office said it and the City of London Police are investigating Merlin Biosciences (London, U.K.) concerning an investment made by one of the VC's funds. The SFO and the company would not comment further on the investigation.

However, in an email to investors and portfolio companies, Chairman Chris Evans said "no impropriety on behalf of Merlin Funds" has been committed. "We will work closely, openly, and speedily to resolve the situation while carrying on the business of making money for our investors," he wrote. ...