The Cross-Border Biotech Blog

Biotechnology, Health and Business in Canada, the United States and Worldwide

Current Data on the State of Biotech in Canada

Canadian moneyEquicom published a report recently that takes a comprehensive look back at 2009 at the Canadian public healthcare sector.  Here’s the link to the press release, which has the headline numbers and a link to the full report.  If I use “therapeutics” as a rough proxy for “biotech,” here’s where we stood at the end of 2009:

  • The average stock price change in public Canadian therapeutics companies was up 53% in 2009 — better than the TSX composite index (+31%) and the NASDAQ Biotechnology index (+16%) — despite some notable declines following clinical trial failures
  • Therapeutics companies raised $257.5 million, with $6.3 million of that coming in as convertible debt and the remainder as equity (mostly incentvized by warrants)
  • The study notes 10 licensing deals totaling $212 million in up-front payments with the potential for almost $2 billion in future milestone payments (among the 8 that disclosed financial information)

Read the whole thing (pdf), and you’ll see some reason for optimism.

In fact, BIOTECanada released some data from an updated survey this week that also shows increasing optimism in the sector heading into 2010.  Whereas the data in July showed 70% of companies with under 12 months’ cash, the new results show the converse percentage — over 70% of companies now report at least 12 months’ cash on hand.

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2 responses to “Current Data on the State of Biotech in Canada

  1. Pingback: E&Y Beyond Borders Biotech Report 2010 — Canadian Biotech Data « The Cross-Border Biotech Blog

  2. Pingback: E&Y Beyond Borders Biotech Report 2010 — Canadian Biotech Data « The RIC Blog

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