For many biotech companies, Europe is often perceived as a daunting market to enter. Now, US firms account for 55% of spending in comparison to Europe’s 26%, which many consider a cause for concern. “Once companies get to Series C, there’s a big decline in funding availability.” In response, many European companies choose to turn to US investors. The European Commission announced an initiative to mobilize a €10 billion ($12 billion) investment into the biotech and life science sector. This cost efficiency, combined with higher employee retention rates, makes Europe an attractive destination for biotech companies.