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EY Biotechnology Report 2024: Rising investment in German biotechs
Investments in German biotech companies rose to 1.1 billion euros in 2023, an increase of 17 per cent compared to the previous year.
05/06/2024
Despite this increase, early-stage funding is a cause for concern: biotech start-ups received just 203 million euros, the lowest figure in six years. The industry achieved a turnover of 12.7 billion euros in 2023, which corresponds to a decline of 51 per cent, mainly due to the falling demand for Covid-19 vaccines. Although there was no IPO in 2023, the pipeline of German biotechs remains strong, especially in cancer research. Experts see great potential in the use of artificial intelligence to accelerate drug development.
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