French biotech companies need more investment, says report

The association which represents the life sciences industry in France has called on the country’s government to inject more funds to enable France to remain at the forefront of biotech innovation.

In its 13th annual report, “Panorama de l’industrie des sciences de la vie en France,” Biotech France claims the industry has reached critical mass and requires extra investment to move forward.

The report, put together in partnership with KPMG, proposes that revenue generated from France’s national insurance contributions should be reinvested into biotech innovation and that 1% of those funds should be invested into venture capital companies to generate returns of 1.2 million to 1.4 million euros ($1.3 to $1.5 million).