The Cross-Border Biotech Blog

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

Biotech Bailout: France Edition

Unlike their research couterparts, who threw shoes in protest, France Biotech is taking a more traditional approach to their asks, starting with some grim statistics on private investment in French biotech in 2008:

In France that led to a 79 percent drop in equity investments in 2008, with funding falling to just 143 million euros ($183.2 million) from 694 million in 2007.

Investment in listed companies collapsed to only 12 million euros — a fall of 98 percent — while venture capital funding held up better, down 27 percent to 132 million euros.

 What to do?  Ask for a bailout, of course:

  • doubling of the budget for the French state innovation agency OSEO in 2009 and a tripling for 2010; and
  • reform of various aspects of the tax system, including a more favourable distribution of research tax credits.

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