Capital boom in Danish biotech industry  

2005.06.27
Investors are showing confidence in the Danish biotech industry, where a number of companies have received significant sums this year

Investors are showing confidence in the Danish biotech industry, where a number of companies have raised substantial sums in recent months. TopoTarget, a research based biopharmaceutical company, was recently successfully listed on Copenhagen Stock Exchange. And Bavarian Nordic, which develops vaccines, has just had a fully subscribed rights issue which generated great interest in both Denmark and abroad. The result was proceeds of just over DKK 416 mn (USD 66 mn).

Martin Olin Andersen, senior partner of SLS Venture, says that the biotech industry is far better positioned than it was four years ago, a claim supported by results which show that its technologies are working.

Recently Florian Schönharting, director of Nordic Biotech, which has invested DKK 200 mn (USD 34 mn) in nine biotech companies, said to national newspaper Berlingske Tidende: "The Danish biotech share market looks amazingly good at the moment. Danish biotech shares have fared a lot better than other European biotech shares".

Earlier this month Copenhagen-based biotech company Exiqon announced that it had raised additional funding of DKK 116 mn (USD 19.7 mn) from existing investors following a distribution agreement with Roche Diagnostics. Other companies which have received major investments this year include Pharmexa, Zealand Pharma, and Life Cycle Pharma. The news is reported by financial daily newspaper Børsen.

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