Biotech back on track.. A resurgence of Investor interest at the Biotech & Finance Forum

25^th June 2004 … Prudent optimism was evident at 7^th Annual Biotech and Finance Forum, held this week (22^nd-23^rd June) 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. To view the conference programme, please visit http://www.e-unlimited.com.

If you are interested in obtaining an article, a copy of speaker slides, a transcription of the roundtable discussion or further information on this event please contact Ellen Marriage on +44 207 886 8156, email: e.marriage@northbankcommunications.com .

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Note to Editors:

The conference was organised by Europe Unlimited and supported by the European Commission Research Directorate in association with EuropaBio. Established in 1998, Europe Unlimited has assembled a vast database of Europe ’s technology and investment contacts, and acquired a reputation for staging excellent investment and networking forums across Europe . For more information, visit http://www.e-unlimited.com

For more information contact:
Katja Stout, Northbank Communications
Tel: +44 207 886 8150
Email: k.stout@northbankcommunications.com

Biotech “back on track…” A resurgence of Investor interest at the Biotech & Finance Forum