Austerity Holds Back VC Investing in European Biotech Companies in 2011

Funding for private biotech companies in Europe declines 17% during 2011, while funding for public biotech companies falls 50%, although 2012 starts strongly.

Total funds raised by private biotechs in Europe fell to $831 million in 2011, down 17% compared with 2010, according to Elsevier’s Strategic Transactions database, as the region’s sovereign debt and currency crises compounded ongoing global financial uncertainty to depress sentiment.

A similar number of private biotech companies were successful in raising money in each of the past two years (41...

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