Neil Woodford, the former star fund manager, is planning a comeback following the spectacular collapse of his eponymous investment empire 16 months ago.

Woodford plans to launch a new Jersey-based venture Woodford Capital Management Partners,  which will focus on investment in the biotech, British biosciences and healthcare sectors. For the time being, the new venture will focus on raising money from professional investors, which tend to be more long-term with their investment horizons.