Global biotech investment plummets
Ernst & Young Israel's Yoram Wilamowski: The drop in money raised could create an opportunity for mature companies.
Ernst & Young added that biotech venture financing remained relatively strong, falling 19% from its all-time record in 2007 to $6 billion in 2008.
Ernst & Young says that the challenge for the global biotech industry to turn "an existential threat into a Darwinian opportunity." The fields of opportunity are in generics, US healthcare reform, personalized medicine, and globalization.
Ernst & Young Israel life sciences manager Yoram Wilamowski said, "The drop in money raised could create an opportunity for mature companies, because large companies are seeking to acquire suitable technologies. The recent partial recovery in the capital market, including the renewal of investment in private companies and the extending of credit via financial instruments to public companies indicate that there is money in the market for suitable investments. This trend is reinforced by the lowest-ever interest rates."
Published by Globes [online], Israel business news - www.globes-online.com - on May 26, 2009
© Copyright of Globes Publisher Itonut (1983) Ltd. 2009
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