French Biotech Sector 'Faces Challenge to Raise Funding'

France Biotech and Ernst & Young's latest report looks at the state of the French biotech industry.

France's biotechnology industry has continued its growth despite tough economic conditions, but many of its companies are struggling to raise funds, a new report has found.

The tenth Life Science Panorama for 2011 report, compiled by France Biotech and Ernst & Young, involved almost 200 French companies.

It notes that France's biotechnology sector has reached maturity thanks to a wide range of products, with 1,359 life science companies active in the sector.

But 2011 saw a significant drop in funding, with financing via venture capital, IPOs or refinancing on the financial markets falling by 40 per cent between 2010 and 2011.