Siemens’ start–up deal with SE

GERMAN technology giant Siemens last night unveiled a deal with Scottish Enterprise to help create and invest cash in life science start-up companies.

The first firm to benefit from the agreement is drug discovery outfit Sesmos, which has received a total of £1.5 million in funding from the pair. Sesmos will seek a further £2-3m over the next two years to develop its technology and expects to make a profit within four years.

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Siemens has already helped create two other businesses in Scotland – infra-red sensors maker Pyreos and 3D camera firm Odos Imaging.