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Basic Science Basic science creation 0-5 years Research Basic science theory applied to good biology 2-5 years Development Proof of concept and clinical validation 2-6 years Commercialization 1-4 years
Global Biotech IPO Amount Raised in IPOs ($ Millions) 7,000 6,000 5,000 4,000 3,000 2,000 1,000 0 694 72 1566 615 6338 2345 852 337 663 483 319 317 375 206 300 4 82 206 7 35 19 North America Europe Asia-Pacific 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 8 1803 473 208 (Nature Biotechnology 2005.Feb.)
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