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European BioPharmaceutical Review
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Welcome to the Autumn issue of EBR, which in spite of the hot weather enjoyed by most of Europe over the summer, still retains a chill in terms of the status of the European biotech sector. Whilst it appears there is the faintest hint of a brighter Autumn in the US market with talk of an IPO window opening in the Fall, Europe's quoted companies have meanwhile been getting to grips with market conditions as evidenced by the recent run of consolidation. The British Biotech merger with RiboTargets and further merger with Vernalis, the hostile takeover of Oxford Glycosciences by Celltech and the latest merger of KS Biomedix with Xenova, all illustrate that the long-predicted and called for consolidation in European biotech has begun in earnest.
This response to capital market conditions is very much a theme running in this year's Burrill & Company Biotechnology Report, sub-titled 'Revaluation & Restructuring' and reviewed in depth in this issue by my colleague Dr Adam Stoten. Similarly, the importance of reading the response of fund managers to merger announcements, as well as the power of cash over paper in doing deals, is nicely chronicled in Dr Stephen Parker's speculative article on the current and future status of European versus US biotech. Anxious European biotech CEOs and VCs considering the best way to respond to the current climate would do well to bear in mind one of Stephen's UK fund manager quotes: "We have put quite enough money into UK biotech, the problem is that we put it into the wrong companies. It is now the job of the corporate finaciers to come up with creative ways of matching the cash in the sector with pipeline-rich, cash-poor companies."
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Industry Events |
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EuroBiopartnering 2008
7-9 October 2008, Paris, France
EuroBiOpartnering
2008 gives you the unique opportunity to meet the relevant decision makers and
opinion leaders from the international biotech community and offers you 3 days
of partnering opportunities including one-to-one meetings, company presentations
and further networking activities…
More info >> |
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