Keywords: Canada, Biotechnology industry, Cash availability, Financing, BIOTECanada,

Canada’s biotech industry starts 2010 on upbeat note as survey reveals improved cash situation for companies

Article | 27 January 2010

Canada’s biotechnology industry is back in gear doing deals at BioPartnering North America and a recent survey finds renewed optimism amongst industry chief executives. The economic situation in 2009 created a new-found flexibility in the sector, as firms restructured and pursued innovative deals and partnering options to survive. Today, companies are in a better situation financially than in December of 2008, and are starting the year on a relatively upbeat note.

“As a CEO actively in the market, I am seeing renewed optimism, and a lot of energy and excitement among investors about the Canadian sector,” said Gordon McCauley, president and CEO of Allon Therapeutics, a Vancouver-based biotechnology company developing treatments for major neurodegenerative conditions. Enjoying this article? To continue reading you need to login, take a FREE trial or subscribe.

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