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Biotech inventors head to US

Europe is failing to provide venture capital for young biotechnology companies, forcing inventors to look for support in the United States, according to an analysis of the industry.

The paper, published in the Journal of Commercial Biotechnology, looks at changes in patterns of financial support for companies, during the past seven years. According to its findings, investment in biotechnology start-ups outside the US has “essentially disappeared” in that time, meaning that start-ups today “can expect little venture capital support”.

“Since 2007 it has become almost impossible to get European investors to see the value in really visionary technologies,” lead author William Bains, from the University of Cambridge, is quoted as saying by news organisation SBWire. “This is why Boston and New York are full of European scientists and entrepreneurs.”

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