Neil Woodford is set to launch a new biotech investment trust through his new venture next year.
The FT reports the fund manager is set to roll out the new portfolio in response to the growing number of unquoted biotech firms.
Woodford already invests in Oxford Nanopore, an unquoted UK bioscience firm, through his equity income fund he launched in June, a month after setting up Woodford Investment Management.
He also has a £16m stake in Northwest Biotherapeutics, a US company working on treatments for brain tumours.
It is hoped an investment trust structure would be better suited to the biotech industry because it will provide “permanent capital” to the underlying companies.
Woodford’s existing fund currently has assets of £3.6bn and he also manages a further £5bn of independent mandates including for St James’ Place.