ReNeuron agrees to move for $19M incentive deal

The Welsh and Sir Chris Evans' life sciences fund have bought themselves an addition to the regional biotech community. The stem cell biotech ReNeuron says it will relocate to South Wales after grabbing a $7.5 million investment from the Wales Life Sciences Investment Fund along with about $12 million in grants from the Welsh government. "This transaction represents the sort of exciting and innovative deal and investment that will become the hallmark of this Arthurian investment strategy for Wales," said Evans, a biotech investor who helped orchestrate the hub strategy. Wales may be swimming against the tide, though, as the industry concentrates around Cambridge, Oxford and London. Story