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BIOTECH ALLIANCES INCREASE 62% FROM MID 1994-95 COMPARED TO PRIOR YEAR -- ERNST & YOUNG; LATE SUMMER 1995 PUBLIC OFFERING WINDOW HAS RAISED OVER $800 MIL.

Executive Summary

From July 1994 through June 1995, biotech companies looked within the industry for support, forming 62% more alliances compared to the same period the prior year, Ernst & Young's 10th annual industry report "Biotech `96, Pursuing Sustainability" found. The number of alliances between biotech companies grew from 152 during July 1993-June 1994 to 246 in the same 1994-1995 period.

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