Shrinking Funding Rounds For European Biotechs Are No Surprise, But Series A Rounds Look Healthy, If Few
Nearly half (48%) of the 27 fundraisings by private European biotech companies so far this year have been for sums totaling $10 million or less, according to Elsevier's "Strategic Transactions" database. That's a significant increase over the same period in 2010, when less than 30% of financings were sub-$10 million.
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Funding for private biotech companies in Europe declines 17% during 2011, while funding for public biotech companies falls 50%, although 2012 starts strongly.
Biopharma start-ups raised $299 million and just over half were Series A rounds. Device companies brought in $134 million, while two diagnostics firms raised $10 million total. Ophthalmology was the most popular theracat for biopharma alliances. Just one acquisition involving a start-up took place.
France's Pharnext Attracts Business Leaders As Investors; Uses Network Pharmacology For New Low-Dose Combos
French industrialists invest in a Series B fundraising for Pharnext, attracted by its network pharmacology approach to neurological and other diseases.