Venture capital firm Andreessen Horowitz said on Friday it was working with Eli Lilly to launch a $500 million venture fund that will be fully funded by the U.S. drugmaker. WHY IT'S IMPORTANT The fund,

Bio + Health today announced a newly formed, first-of-its-kind venture capital fund to fuel broader innovation in human health, in partnership with Eli Lilly and Company ("Lilly"). The Biotech Ecosystem Venture Fund ("Fund") seeks to drive transformative progress in healthcare by investing in therapeutic platforms and cutting-edge technology companies that can bring new medicines and disease treatments to improve patients' lives.