Partnering deals ginning record biotech cash in '09

Biotech deal making is headed for a record year, says Steven Burrill, CEO of Burrill & Co., as developers rely on Big Pharma's hunger for innovation to make their way through turbulent times. "Partnering revenues have been a staple for many biotech companies throughout the year and, as a result, we are likely to see a record amount raised by U.S. biotechs by the close of 2009," says Burrill, who also notes that almost all members of the Burrill Biotech Select Index saw their share values increase in November. Amylin Pharmaceuticals, Vertex Pharmaceuticals, and Biogen led the biotech pack. Release

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