California’s biomedical industry employs nearly 270,000, generated revenue of more than $115 billion, captures $3.2 billion in National Institutes of Health grants and collects $2.7 billion in venture capital investment.
But, according to a report released today by Northern California trade group BayBio, the California Healthcare Institute and accounting-consulting firm PricewaterhouseCoopers, something is woefully amiss. The report contends that the state’s spot as the world’s intersection of innovation in medicine, devices, technology, academia and venture capital, is “balanced on a precipice.”
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