Investments in emerging pharmaceutical and biotech companies continued to decline in June, with around 10 companies raising just $214.5 million in private fundraising, just over half of what was raised in April. Significantly, confidence in the US market has fallen dramatically with only seven companies representing the US in Scrip’s study. In April, it had appeared that US investors were able to shrug off the subprime fiasco and weather the current financial storm, but it now appears that confidence has again waned. Indeed, unlike April, in which US companies accounted for 99% of all private fundraising conducted, in June this figure fell to 70%.