Financing falls a third
The number of financing transactions in Europe fell by over one-third in 2001 compared to 2000, and the median pre-money valuation of them fell from EUR8.7m to EUR7m.
However, the decline was steeper in the US, where investment fell 65%, transaction volume fell 53% and pre-money valuations declined from EUR28.5m to EUR19m during the same period. Biopharmaceuticals saw a 13% increase in funding over the year, to EUR1.7bn euros in 160 deals.
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