ARTICLE | Finance

Europe's Iceberg 2011: A rising tide; demand to match

BioCentury annual survey: Maturing European biotech demands more money than ever

May 30, 2011 7:00 AM UTC

Europe's biotech industry is maturing, as a handful of public companies are transitioning from sizable cash burners to commercial enterprises, while the number of private clinical-stage companies has reached record levels.

Indeed, BioCentury's 9th Annual European Iceberg Survey - which projects the money required to provide three years of runway for companies in the clinic, or have a product on the market - counts 217 private companies in the clinic and beyond. That is up 21% from 180 in last year's survey and nearly four times the number in the initial survey taken in 2003 (see "The Ascent")...