Big Pharma and biotech companies often outsource clinical trials to external companies. Europe's early-stage clinical trials startups are flush with funds but they're struggling to grow. The fate — and market cap — of a biotech company often lies with a successful clinical trial. The COVID-19 pandemic also spotlighted another promising alternative to carry out these trials — startups. While the US touts around a dozen clinical trials unicorns valued at $1 billion or higher, per Dealroom estimates, Europe's startups are lagging behind.

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Persons: BEN, Janssen, Christoph Ruedig, Maya Zlatanova, Europe hasn't, Matt Wilson, Wilson, Christoph Massner, it's, Ruedig Organizations: Big Pharma, pharma, Janssen Pharmaceuticals, Tempus, Venture, Albion VC, US, Earlybird Ventures Locations: Europe, New York, American