Lack of follow-up finance in 2011 for European biotech
This article was originally published in Scrip
In 2011 so far, almost as many European biotechnology companies have received seed or series A venture finance as their counterparts in North America. However, the early sums raised by European firms are 30-40% less than those in North America. Furthermore, and perhaps more importantly, the number of later finance rounds in Europe is only just over a quarter of that in the US and Canada, suggesting that Europe’s emergent industry must continue to learn to live without a fully supportive financial infrastructure.