Venture capital investment in the European biotech industry continues to gain momentum, according to a BioWorld Snapshots report. Private biotech firms globally secured nearly $1.3 billion in venture capital funding in the second quarter of 2013, up 190% from the previous quarter. European firms accounted for 44% of deals. "Maybe you could describe the U.S. market as a tsunami and Europe as a rising tide, but it's growing and it's growing steadily," analyst Jim Healy said.
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