Cash shortage hurts Mich. biotech, drug-discovery firms

02/5/2009 | Ann Arbor Business Review (Mich.)

Dwindling support from venture capitalists and other funding sources in Michigan is slowing the growth of drug-discovery companies and forcing some biotech businesses to turn further to offering services, industry observers said. David Canter, who used to head Pfizer's operation in Ann Arbor, Mich., said discovery firms could benefit from increased activity in pharmaceutical services, and the state should keep on being an "idea factory" for the life sciences sector.

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Ann Arbor Business Review (Mich.)

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