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Biotech Industry Remains Strong Per Report

Wednesday, July 02, 2008 5:17:00 AM PDT | VentureDeal Staff

San Francisco, California --  The biotechnology industry for the first half of 2008 retained continued strength in performance in capital markets, for partnering and for continued venture capital fund raising, according to the Burrill Biotechnology Report.

Although biotech IPOs were nonexistent during the second quarter and only one occurred in the first quarter of 2008, performance of existing biotech companies in the public markets as evidenced by a price weighted index tracking 20 blue-chip biotech companies only finished down 1.3% versus the Dow falling 10%.

Burrill said that partnering deals picked up in the second quarter, bringing in over $4.1 billion for US companies, including a notable deal of a potential $770 million partnership between CoMentis and Astellas Pharma.

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