US outstrips UK in terms of biotech investment

According to the research from the department of trade and industry, US biotech firms attract 19 times more funding than UK rivals, with UK and European biotech sectors seriously underfunded. The analysis suggests that the performance of European companies significantly lags behind that of US firms of a comparable age when comparing the average levels of investment raised, research and development employment, research and development expenditure and revenues generated. UK biotech firms raised €457m last year, 22% down on the €584m raised in 2002. In comparison, US firms raised €8.71bn, although that was also down on the €11bn raised in the previous year.

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