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New medicines could be hit by credit crunch

27th October 2008

Experts have said the credit crunch could affect the development of new types of medicine and treatment.

Professor David Wield, of the government-backed Economic and Social Research Council, said: "Venture capital is very important to biotech firms. It is often the main source of funding in the early stages of development and, without this, biotech firms will struggle to get their projects off the ground."

 

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Article Information

Title: New medicines could be hit by credit crunch
Author: Jess Laurence
Article Id: 8917
Date Added: 27th Oct 2008

Sources

BBC News

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