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Supporters Say Public-Private Funding Is Best Bet for Biotechnology Research.
Knight Ridder/Tribune Business News, August, 2001
By Naomi Aoki, The Boston Globe Knight Ridder/Tribune Business News
Aug. 15--A decade ago, Therion Biologics Corp. set out to create a host of vaccines -- some to prevent the spread of AIDS, others to fight various cancers -- on just $3 million from private investors.
Over the years, the Cambridge biotechnology company raised another $30 million in private funding. But investors were reluctant to fund HIV and cancer vaccines, research areas fraught with failure and risk, and each dollar was hard won.
So Therion joined the small but growing ranks of companies that rely on public money to support their research efforts. It received $15 million for its AIDS vaccine program from the National Institutes of Health. And it struck research deals with...
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