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Biotech's trials and tribulations
Haim Handwerker, "Biotech's trials and tribulations" (13 December 2004, Haaretz Daily)
Leading text: "The great success of Israeli high-tech in the U.S., at least in the beginning, was due in no small part to the Israelis living in the U.S. and working at the centers of power: at the investment houses on Wall Street, the big American high-tech companies, the venture capital funds and the major law firms. An examination of most of the high-tech-related deals made there - whether stock issues, sales, acquisitions or product promotions - will usually reveal the involvement of an Israeli living in the U.S.
A similar phenomenon is currently evident in the biotechnology industry, in which Israel is considered a relative newcomer: Israelis residing in the U.S. who are experts in this field are trying to promote a connection with their homeland. ..."
Excerpt: "The U.S. administration's budget for developing drugs is $30 billion a year, whereas the Israeli chief scientist's annual budget for biotech totals only $400 million. A biotech company has to start out with $3-$5 million to cover its first two years." One problem is that Israeli companies start out with an average of just $600,000. Without significant connections abroad and with limited possibilities of raising private funding in Israel (there are only five local VC funds that specialize in biotech) - this sum clearly is not enough for setting up clinical trials, even on animals." [FullText]
Leading text: "The great success of Israeli high-tech in the U.S., at least in the beginning, was due in no small part to the Israelis living in the U.S. and working at the centers of power: at the investment houses on Wall Street, the big American high-tech companies, the venture capital funds and the major law firms. An examination of most of the high-tech-related deals made there - whether stock issues, sales, acquisitions or product promotions - will usually reveal the involvement of an Israeli living in the U.S.
A similar phenomenon is currently evident in the biotechnology industry, in which Israel is considered a relative newcomer: Israelis residing in the U.S. who are experts in this field are trying to promote a connection with their homeland. ..."
Excerpt: "The U.S. administration's budget for developing drugs is $30 billion a year, whereas the Israeli chief scientist's annual budget for biotech totals only $400 million. A biotech company has to start out with $3-$5 million to cover its first two years." One problem is that Israeli companies start out with an average of just $600,000. Without significant connections abroad and with limited possibilities of raising private funding in Israel (there are only five local VC funds that specialize in biotech) - this sum clearly is not enough for setting up clinical trials, even on animals." [FullText]
posted by Dr.Koudinov @ 16.12.04
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