BioFunding Summit held in optimistic climate

Leading researchers and venture capitalists gathered at the 2003 BioFunding Summit in Scottsdale amid positive reports on the biotech industry.

Mike Hildreth, leader of Ernst & Young's Americas section, told the Arizona Republic that the 2003 biotech recovery is almost six months ahead of predictions, and that growth is more robust than expected. He also said that more than 15 companies asking for more than $1 billion are scheduled for initial public offerings this fall.

"The BioFunding Summit 2003: New Frontiers in Cancer Research" at Westin Kierland Resort was attended by more than 200 people, including some Nobel Prize-winning scientists and about 20 venture capitalists.

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For more information:

"'03 biotech companies producing great gains," Arizona Republic, 10/18/2003