Health Reform Delivers Cash to 3,000 Biotech/Healthcare Firms; Big Winner Is Immunomedics
This article was originally published in The Pink Sheet Daily
Maximum single award was less than $250,000; the number of applications kept individual award levels down.
You may also be interested in...
Citing survey that finds eligible firms bullish on employment impact of pending tax credits, biotech industry will seek extension and expansion of the $1 billion Therapeutic Discovery Project in 2011.
With funds and firms closing, a new reality awaits those who survive until the next economic upswing. Some of the elements are already in place, such as VCs' willingness to take capped returns and exits via risk-sharing contingency-based acquisitions. The emphasis on capital efficiency may change the types of companies VCs can afford to back, and corporate funds are now a vital part of biotech venture, especially in the early stages.
Biopharmas could win grants equivalent to half of their research expenses in 2009 and 2010, plus apply for a slice of the $500 million in new R&D funding available in areas of high medical need, courtesy of the health reform package