Science in the Triangle

A $500 ticket to the Biotech conference Monday and Tuesday offered face time with heavy-hitting investors. After an 18-month, deep recession that dried up funding for drug research and development nationwide, it was a lure that attracted Research Triangle area companies to the Raleigh Convention Center in droves.

The visitors made it clear they and other investors remain skittish, but they also noted signs of hope, such as the handful of initial public offerings by biotech companies in past months and an adjustment in venture funding last year in favor of early-stage companies.

Stephen Sands

“When we look at a year ago, we’re really all taking a breath of relief that the Dow [Jones stock index] is over 10,000,” said Stephen Sands, vice chairman of U.S. investment banking in Lazard’s healthcare group, who moderated a panel addressing the future of biotech funding at the conference. Read more…