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Alexander von Gabain and his team laid the foundations of an enterprise that would rise to the top of the continent’s biotechnology pile – and rewrite the region’s rules for biotechnology start-ups.

Private equity firm Celtic Pharma is launching two new funds worth $1.5 billion in total, to invest in development-stage biotech companies and products.

Most of the Cohesion Policy budget of €347 million is being invested in projects that support the Lisbon strategy, according to the latest analysis of the programme.

Research Commissioner Janez Potocnik called for Europe to adopt a global culture of entrepreneurship in the face of the challenge from China and India.

The European Parliament has given the thumbs up to the first ever Europe-wide public–private research partnerships, approving programmes in miniaturisation, embedded computers, medicines and aviation.

An academic–industry consortium is setting up a centre to support collaborative research and technology transfer between the UK and India.