Buoyant Biotech Funding Environment Directly Impacts CRO Q2s
The contract services industry is reaping the rewards of a resilient biotech funding environment, re-accelerating growth in the sector.
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Using data provided by Informa Pharma Intelligence, the UK BioIndustry Association reports that UK biotechs continue to take the lion's share of European fundraising.
European biotechs are likely to be the big winner as transatlantic VC Abingworth closes its latest fund, Abingworth Ventures VII (ABV VII), at $315m, exceeding its $300m target.
Last year, 187 deals took place in the pharma services realm, each one molding the acquisitive company into a slightly different shape to reflect the current needs of the pharmaceutical industry. One imperative continued to drive more large deals than all others: data.