SIMPLE FACT: CAPITAL SHORTFALL”
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“Somebody has probably done the precise calculation but this is a simple back of the envelope estimation: there are (by Biocat’s figuring) about 91 biotech and 71 pharma companies in Catalunya. This is 162 companies in this sector. Assuming a very rough $25 M in clinical trial costs to get to Phase II Proof-of-Concept, this a capital need of about $4.0 billion. The capital available in Catalan VC companies is probably no more than 200-300 M, optimistically. The delta is huge. Without external capital, most of these small biopharma companies will not survive.
linkedin post 2022-06-29 05:12:48
Nigel Fleming
September 21, 2022