New EuropaBio Report on European Biotech: Dynamic, But Needs More Investment
An industry study comparing the biotechnology sector on both sides of the Atlantic has found that European biotech is as dynamic as its US counterpart but suffers from a lack of financing.
The report was produced on behalf of EuropaBio,the European Association for Bioindustries. In a bid to achieve transparency and to even the playing field, it stuck to a single definition of biotechnology for companies on both sides of the Atlantic.
The study found that Europe was home to more biotech companies and that Europeans tended to start up more firms in the field than Americans. In the EU-15, there were nearly 2 000 biotech companies compared with just over 1 800 in the USA. More than 13 new companies were created in Europe that year, whereas just over 80 were created across the Atlantic.
The study found that the top European biotech companies compared favourably with their US counterparts.
The report found that Europe may have more companies but that they are less well-endowed. The US biotech industry employs twice as many people, spends almost three times as much on research and development, and raises about fourfold the venture capital.
Read the full report here.
News Source: EuropaBio/Europa