Biotech "back on track."

A resurgence of Investor interest at the Biotech & Finance Forum

28-Jun-2004

Prudent optimism was evident at 7th Annual Biotech and Finance Forum, held in June 2004 in Munich.

Steven Burrill, CEO of Burrill & Company, a leading US life sciences investment bank, commented in his keynote speech on 22nd June:

"The biotech world, both in the US and Internationally is having quite a resurgence of investor interest...40 IPOs done internationally in the last 9 months, plus increased private appetite by the venture capitalists, has led to a more robust financing window than many expected; increased partnering and acquisitions by big pharma (and within biotech) is also adding to the upswing. Biotech, worldwide, is back on track..."

Vectura announced its successful flotation on AIM today and in Europe, Evolutec, Microscience and Norwood Immunology have all announced their intentions to list on AIM in the last month. But some reservations remain following the disappointing performance by Ark Therapeutics and Basilea Pharmaceutica since their flotations in March. A lack of 'market pops' means that institutional investors will be less motivated to buy at IPO.

The biotechnology industry needs goalies (big pharma), strikers (the right team), and supportive fans (investors) was the timely analogy made with Euro 2004.

The conference programme was made up of plenary panel discussions, interactive workshops and company presentations. Common themes discussed were the opening of the IPO window, building better biotechs, attracting institutional investors back into the sector, M&A deals, trade sales, and the progression to personalised medicine. The direction of biotechnology in Europe was debated by a roundtable consisting of key opinion leaders including venture and institutional investors, pharmaceutical and biotech CEOs. The event showcased 60 life sciences companies throughout Europe and aimed to help private companies to raise financing and prepare for initial public offering.

https://www.bionity.com/en/news/38234/biotech-back-on-track.html