The UK's Chris Evans [1] is continuing to try and drum up support for a billion-pound investment fund to support the country's ailing biotech and medical device industry, with half of that money coming from the government. Evans is emphatic that the country's biotech industry is in danger of falling far behind other countries' drug development industries. And that calls for a swift injection of funds--just like the banks are getting.
"You cannot dream up billion-pound successes," says Evans. "They need cash and Gordon Brown needs to support the sector, as is happening with banking, by getting the check book out."
- check out the report [2] from Business in Wales
ALSO: The long drought of IPOs in the U.S., meanwhile, shows no signs of letting up anytime soon. And Aldagen bowed to the inevitable, pulling its registration for an $80.5 million offering. Report [3]
Related Articles:
Sir Chris prescribes £500M for UK biotech industry [1]
Biotech godfather mulls investors' 'collapse of confidence' [4]
Investor says biotech is languishing in the UK
[5]British biotech execs sour on industry's 'dire' shape [6]
Links:
[1] http://www.fiercebiotech.com/story/sir-chris-prescribes-500m-ailing-biotech-industry/2008-09-02
[2] http://www.walesonline.co.uk/business-in-wales/business-news/2008/10/08/we-need-super-funds-says-entrepreneur-91466-21987556/
[3] http://www.pehub.com/19796/aldagen-cancels-ipo/
[4] http://www.fiercebiotech.com/story/biotech-godfather-examines-investors-collapse-confidence/2008-08-12
[5] http://www.fiercebiotech.com/story/investor-says-biotech-is-languishing-in-the-uk/2007-03-12
[6] http://www.fiercebiotech.com/story/british-biotech-execs-sour-industry-s-dire-shape/2008-06-23