US-based drugs company Cephalon has started a corporate venturing fund led by its former executive vice-president, Peter Grebow.
Grebow left Cephalon to manage Cephalon Ventures from his eponymous consulting company, according to news provider In Vivo that first spotted the story.
In Vivo said a regulatory filing showed Grebow could charge $750 per hour, with a maximum of 1,000 hours over the course of a year, to run Cephalon Ventures and provide advice on the formation of N-Versx Pharmaceuticals.
Cephalon previously joined the $24m series E round consortium backing SymBio Pharmaceuticals.