Wither New Biotech Startups?

Wither New Biotech Startups?

Source: 
Forbes
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In contrast to the rosy top-line, the data are potentially showing a troubling trendline.

The number of new biotech startups announcing their first rounds of funding has dropped each quarter since beginning of 2019, down nearly 50% from a year ago, to what may be the lowest number in five years.