American venture capital firm Andreessen Horowitz (a16z) Bio & Health has entered into a partnership with Eli Lilly to create a fund for the advancement of healthcare innovation. The Biotech Ecosystem Venture Fund will enable progression of therapeutics and technology by supporting the relevant companies to develop new medicines and treatments.

The project will be managed by a16z, with plans to invest $500 million in all stages of the development process to enable entrepreneurs and innovators to create new engineering technologies, AI capabilities as well as expanding biological science.