Golden Leaf invests in biotech fund

Source from:  tobaccoreporter.com 05/26/2004

he Golden Leaf Foundation is investing US$30 million in the HBM Partners BioCapital Fund, which will be used to help North Carolina, USA, firms invest in biotechnology. Golden Leaf has entered into a limited partnership with Hatteras BioCapital, which will set up an investment advisory office to HBM in North Carolina's Research Triangle Park area. Billy Clarke, chairman of Golden Leaf, said, "When we first announced our plan to invest in biotechnology, we wanted to leverage our dollars, provide ready access to later state capital for North Carolina companies, and create an opportunity to achieve a strong return on investment." Andreas Wicki, CEO of HBM, said, "We regard North Carolina as a hot spot for biotechnology internationally. The investment in HBM BioCapital and our relationship with Hatteras BioCapital will allow us to take full advantage of the deal flow coming out of North Carolina." HBM is an active investor in life science companies and is based in Zurich, Switzerland. Golden Leaf is a North Carolina foundation that is funded with proceeds from the Master Settlement Agreement. The foundation helps North Carolina make the transition from being a tobacco-dependent economy. Enditem