The rippling effects of the
global economic crisis and the knock-on downsizing of risk capital is forcing
European biotechs to scale back their spending plans, even as an increasing number
have moved into clinical development or have reached the market with new
products.
BioCentury's eighth annual
financial survey of European biotechs with products in the clinic and beyond
shows that the demand for money over the next three years has not changed even
though the number of companies with clinical programs and products on the
market has grown.