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Biotechs big winners in VC rebound

Biotechnology companies are leading a rebound in venture capital investment in the New York metro area, a new survey shows.

Investors put $380 million into 56 companies in the second quarter of this year, for a 63% jump in venture capital investment over the first quarter, according to the MoneyTree Survey by PricewaterhouseCoopers, Thomson Venture Economics and the National Venture Capital Association.

Antibiotics, The Next Generation
Few things are as inexorable as the march of bacterial resistance. When a person or animal is given an antibiotic, it kills enough pathogens to cure the illness. But bacteria that have mutated so they can resist the drug survive. The next time these bacteria cause an infection, the antibiotic is less likely to work. But that is drawing some biotech companies into the antibiotic research.

BIO leader hits proposal for drug price regulation

The Cambridge-based chairman of the nation’s largest biotech organization is strongly opposing any federal controls in drug pricing if a prescription drug component is added to Medicare.

“It’s price controls or innovation; you can’t have both,” said Richard Pops, who recently was elected to head the board of directors of the Biotechnology Industry Organization (BIO), a Washington-based information and lobbying group. Pops is CEO of Alkermes Inc. in Cambridge.

Biotech industry in survival mode
Restructuring, retrenching and reinventing themselves, Bay Area biotechnology firms are adapting to weather the economic downturn.

“We’ve noticed (biotech companies) will abandon one or two research products and in the process may have discovered something of more use, readjusting their core competency to find something marketable today, rather than long term”