The consulting firm McKinsey looked at the Biotech sector in Europe very closely and came to some fantastic conclusion in a recent study:
Capital availability is growing. Biotech funding continues to grow at a record rate from both public and private sources. Global venture-capital funding and deals reached their highest ever level of $36.6 billion in 2020, and the amount of capital raised during IPOs in 2020 ($28.7 billion) was more than twice the amount raised in 2019 ($11.8 billion) (Exhibit 1). Some biotechs are also exploring a nascent form of funding: special-purpose acquisition companies (SPACs).
Even though Europe is producing world-class science and leading in the number of publications as well as playing at the top of the field in patents, there is still one particular problem that has many challenges:
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