PARIS, Oct. 26 (Xinhua) -- French President Nicolas Sarkozy announced Monday to invest 139 million euros (206.5 million U.S. dollars) to establish a biotechnology fund at the fourth session of the Strategic Council for Health Industries.

    To support the development of medical industry and biotechnology research, the investment will combine input from medical industries at home or aboard and France's strategic investment foundation.

    He also hailed the commitment made by the industry representatives that the expense for science research on life and health will amount to 60 million euros (89.2 million U.S. dollars) until 2012, according to a statement by Elysee.

    French Strategic Council for Health Industries, set up in 2004, contains government officials and leaders of medical enterprises as members. It aims at promoting the competitiveness and influence of the French medical industry.