CANADA'S BIOTECHS SHORT ON CASH

Director Emeritus, David Lank, of the Dobson Centre at the Desautels Faculty of Management at McGill University, and co-founder of Helix, Canada's oldest venture-capital firm, said the industry's problem is a matter of the 'pigeons coming home to roost.' Mr. Lank said when many of these firms were being financed five to 10 years ago, 'everybody was flush with venture-capital money. Biotech was going to solve all the problems of the world. We had this idolatrous worship of science,' he said."

National Post, July 8, 2009