Barcelona Hosts the 6th Summit of the Biotech & Finance Forum

Barcelona, 16^th December 2003…The Biotech Finance Forum, a pan European event bringing together Europe’s leading investors and most promising life science companies, is today being hosted in Barcelona, one of Europe’s most rapidly developing biotech hotspots. The conference is attended by over 250 leading venture capitalists, partnering and licensing executives from the pharmaceutical industry and a small number of top consultants and advisors. 

Waldemar Kütt, of DG Research at the European Commission, commented in his key note opening  speech:  " Europe today has more biotech companies than the US , although on average they are much smaller in size than their US counterparts. Biotech companies, financiers and policy makers at all levels need to concentrate on creating value and promoting the growth of these companies through more M&A activities, better financing, more coherent public policies and better regulatory frameworks."

This investment conference, originally launched by the European Commission research directorate as a platform to support biotech entrepreneurship, is showcasing about 60 of the most promising biotechs across Europe . These include:

·         Trigen Ltd, who today announced the completion of a successful phase I study for its novel oral anti coagulant

·         Genopia Biomedical GmbH, who last week announced proof of concept for its AIDS Myelopathy therapeutic

·         Henogen SA, this month announced a €5 million investment into its newly acquired mammalian cell production site 

·         Arakis Ltd, who this month announced clinical pharmacology proof of principle trial for its chronic benign pain drug

·         Glycart Biotechnology AG, an antibody company who recently announced a successful series A fund raising of $13.6M 

·         Astex Technology Ltd, who merged with metaGen Pharmaceuticals GmbH in October, improving its cash position by £23 million

·         BioVex Ltd, who completed a £17 million series C fundraising in October

·         U3 Pharma AG, who raised US $14.75 million in a second round in September

Presenting companies also had the opportunity to participate in the Venture Academy , on the 15^th December, designed to coach CEOs in delivering fund raising presentations. For a full conference programme: www.e-unlimited.com/bff/P200068/download/Updated%20programme%200212.pdf

This conference is the first major pan European biotech investment and partnering event to take place in Spain .  Barcelona ’s “Gateway to Knowledge” area is one of the most active scientific and technical hubs in Southern Europe with the Science Park in Barcelona housing twenty companies and three research centres.  The area also encompasses campuses of the University of Barcelona and Universitat Politècnica de Catalunya, the Technology Park of Barcelona, and institutes of the Spanish Council for Scientific Research.

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