BioCentury
ARTICLE | Finance

Phase II funk

Phase II innovators left behind as public biotechs strengthen going into 2011

January 3, 2011 8:00 AM UTC

Despite the strongest public biotech financing market in a decade, companies with first-in-class lead compounds working on proof-of-concept data may continue to find it difficult to finance in 2011. Like their VC brethren, most sector specialists still shy away from early stage innovator companies.

The message is clear: the investable universe is bigger than the space where many investors choose to play. On the buyside, this translates into missed opportunities. For companies, it means a cash crunch...