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European biotech firms face funding crisis
March 17, 2009

One in five of Europe's biotech firms risks bankruptcy in 2009 as the credit crunch starved them of vital funding, a study by French research firm Alcimed showed on Monday.

As a result, 20 000 highly skilled science jobs could be lost. European biotech was vulnerable because most firms were still at a loss-making stage. The study found the majority of firms needed to raise funds within 18 months. - Reuters
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