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Auditors to examine Welsh government's £50m fund

2 October 2013 Last updated at 15:05 BST

The Welsh government's flagship £50m biotech investment fund is to be examined by auditors, BBC Wales can reveal.

The Wales Life Science Investment Fund is chaired by multimillionaire life sciences entrepreneur Sir Chris Evans.

Backed with £50m of public money, it has invested £5m in Guildford-based stem cell company ReNeuron.

The Wales Audit Office is to examine this deal alongside the Welsh government's internal audit team.

BBC Wales' Political Editor Nick Servini reports.

£50m investment fund to be examined

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