Sustainability Key To Biotech In Strong 2nd Qtr
The theme for the biotechnology industry's second quarter is finding a vehicle to sustainability, according to a report from US company Burrill & Craves. Financings showed strength compared to the previous quarter, while firms continued to innovate in deal-making, especially in genomics, bioinformation and gene therapy.
Sustainability through financings, strategic relationships, combinations and consolidations, as well as through effective redeployment of resources, was the primary focus of the industry for the past six months, it was noted.
During the second quarter, public companies received $303 million in public and private funding, compared with $249 million in the first quarter. Private company financings also displayed increased vitality, jumping around 100% from the previous quarter, to $986 million.
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