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Group Says Quarter Of Aussie Biotechs Lack Cash To Last Beyond June

This article was originally published in PharmAsia News

Executive Summary

Australia's budding biotech industry, which includes pharmaceutical and medical device makers, is asking the government for nearly $405 million to help keep it afloat during the current global economy. AusBiotech said about 25 percent of Australian biotechs lack even the cash to operate beyond June. Still others, it said, are faced with choices of whether to stay in Australia where local funds have dried up or take incentives to relocate to other countries. Chairwoman Deborah Rathjen said the request was not a bailout, but "an invigoration of investment." (Click here for more
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