Biotech sector needs help to avoid company failures

The industry association for the biotechnology sector is urging the federal government to adopt a three-point plan in the Budget to avoid the collapse of substantial numbers of companies in 2009. BIOTECanada says 50% of Canadian biotech firms lack enough cash to make it to the end of the year. It is proposing a one-time opportunity to monetize tax losses, exempting new biotech investments from future capital gains and making all R&D refundable regardless of firm size or revenues....