French biotechnology sector investment is waning, says France Biotech

Last year, the biotechnology sector was characterized by the "timid return to green" of some US indicators, but this slow recovery across the Atlantic failed to benefit European biotechnology enterprises which, in the period to June 30, 2004, accounted for only 13% of total sector investment compared to 20% in 2000.

This is one of the main conclusions of a report on the current situation in the French biotechnology sector by France Biotech, a non-profit industry representative organization.

French biotechnology groups have had to battle the drying up of financial sources, a trend which persisted in 2004. Funding through private placements last year reached 133 million euros ($177.1 million) compared with 230 million euros in 2002; by the end of October 2004 private investment was 146 million euros, the report notes.