A statement from Medicon Valley* Alliance, a cluster organisation for the Danish-Swedish biotech industry and research institutions in the Øresund region, shows that biotech companies in the region attract relatively more venture capital than their counterparts in Germany, France and the UK.
In 2006, Danish biotech companies in the Øresund region attracted DKK 1.4 bn (USD 266 m) in venture capital. According to Beyond Borders, the Global Biotech Report prepared by Ernst & Young, both the French and British biotech industries attracted approx. DKK 1.8 bn (USD 342 m), and the German biotech industry DKK 1.6 bn (USD 304 m). In population terms, these countries are all 20-25 times larger than Medicon Valley.
Christian Hansen, partner in venture capital fund Nordic Biotech says: "Medicon Valley is full of experienced drug candidate developers, contract research companies and capital for promising biotech projects. In addition, there is a healthy stock exchange market in Copenhagen when the companies' products get close to phase III".
The news was reported by professional journal Ingeniøren (The Engineer).
*Medicon Valley lies in the Øresund Region, which includes the regions of Greater Copenhagen and Zealand in Denmark and Skåne in Sweden – Ed.