Partnering now accounts for 2/3 of biotechnology funding

Figures released by Burrill & Company highlight the growing importance of alliances to the fortunes of biotechnology companies and to survival of the sector in general. According to Burrill, financing and partnering deals collectively brought in $30 billion for small- to medium-sized US biotechnology companies in 2008, with $10 billion in financing and $20 billion in partnering.  Although funds raised through partnering only slightly declined from $22.4 billion in 2007 to $20 billion in 2008, private and public financing for US biotechnology companies declined by more than 50% from $22 billion in 2007 to $10 billion in 2008. To put it another way, partnering income has risen from 50% of external funding in 2007 to 66% in 2008. Full report in PharmTech.