Advancing But Frugal

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...