The Funding Stream for Genomics Companies Evaporates.(Statistical Data Included)

Chemical Market Reporter, August, 1999 by Mirasol, Feliza

The funding shortfall for biotech companies spills over to genomics companies. With the sharp decline of investor interest in biotech, both public and private funding for genomics and other biotech companies has become very difficult to raise in today's capital market. This comes at a time when both the market opportunity and underlying business strategy of genomics companies is changing to reflect a shift from merely sequencing genes to functional genomics.

The promise of genomics as a drug discovery tool is immense. It is estimated that more than 60 percent of drug targets sought by the pharmaceutical industry will come from genomics research, a dramatic increase from 8 percent in 1996, according to Decision Resources, a Waltham, Mass.-based health...

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