China's Cocoon rolls out a $720M fund to back U.K. biotechs; AbbVie teams up with MD Anderson on immuno-oncology;

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> Two major Chinese investors are backing Cocoon Networks' $720 million fund to back tech startups in Europe, with biotech and med devices ranking as top focuses. The U.K.'s tech scene--which has been steadily gaining a new group of biotech investors--is likely to get a lot of Cocoon's interest. China Equity Group and Hanxin Capital are both backing the fund. "The fund will provide capital to help the development of some excellent technology and innovative projects in London and the UK," says Cocoon CEO John Zai. "The fund and incubator program will bring awareness for more Chinese investors to get into London's booming technology sector. It will also help many companies grow and expand into China." Release

> AbbVie ($ABBV) announced this morning that it is tying up with the immuno-oncology experts at MD Anderson in Houston on looking for new ways to rev up an immune system attack on cancer. Like others in the field, AbbVie is looking for some expert guidance to help advance new drugs into the clinic. "AbbVie has both identified new molecules and developed novel technology to hit key targets, with the objective of designing new immunotherapy for the benefit of patients," said Dr. Padmanee Sharma, immunotherapy platform scientific director and professor of Genitourinary Medical Oncology and Immunology at MD Anderson. Release

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