Largest U.S. Biotech Clusters Faced Similar Challenges This Year as Seen Elsewhere

California, Massachusetts, North Carolina, and Maryland have had to find ways to deal with lower funding and attract more firms.

The four states with the nation’s largest biotech clusters showed that they too were not immune to challenges common to most U.S. regions seeking to build their life science presence. Hurdles included a capital squeeze particularly for early-stage biopharmas, the reality of the industry’s international growth, and the need to attract new businesses and retain existing ones, according to a report in GEN.

All four top-tier biotech states—California, Massachusetts, North Carolina, and Maryland—did, however, find numerous ways to address these challenges. They rolled out new financing programs or tweaked existing ones. In some cases they reached out to regions around the world. In others they identified promising niches within their clusters. Signs of success could be seen in a series of new construction and expansion projects.

California

Biocom, the life science industry group for the San Diego region, is stepping up efforts to help smaller biotechs find partners, Joseph Panetta, president and CEO, told GEN. San Diego biotechs captured $317.66 million in venture capital in the first three quarters of 2011, down from $331 million in the first nine months of 2010. The number of biotechs reportedly dipped from 45 to 41 between 2010 and 2011.  >>More here

SOURCE: genengnews.com

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