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A Pounds 4.2 million investment fund for small science and technology-based companies seeks to commercialise university research.

The QTP fund, based in Oxford and Cambridge, is backed by the the European Investment Bank and Midland Bank (part of HSBC Bank), each of which has committed Pounds 2.1 million.

Venture capital fund manager Egan and Talbot Capital aims to attract an extra Pounds 20 million of capital from investors, including a further Pounds 2 million from the EIB.

Director James Mallinson said QTP would be looking at promising research in institutions in England, especially the South.