Investors pile into Danish biotech as never before  

Danish biotech breaks all capital-raising records in 2006, producing the best performance in Europe and far outstripping neighbours Germany and Sweden
Even before GlaxoSmithKline's mega-deal with Genmab last December, 2006 was well on track to becoming a vintage year for raising capital in the Danish biotech industry. Now the analyses are beginning to appear, showing exactly how good a year it was.
Prestigious scientific journal Nature Biotechnology has produced figures showing that Danish biotech firms were the best in Europe at raising capital from venture funds. In Q1-3 2006 Danish biotech firms raised USD 196 m, far outstripping the performance of neighbours Germany and Sweden who managed USD 101 m and USD 24 m respectively. Meanwhile OECD has produced an analysis which shows that in 2006 Denmark attracted more biotech venture investment as a percentage of GNP than any other European country.
Henrik Lawaetz, MD of Scandinavian Life Science Venture, comments: "2006 was a fantastic year for [Danish biotech] companies. Five years ago they were small and newly established. Now they are mature with pipelines which are even more promising." Lawaetz also notes that 2006 has done a lot to put Danish biotech on the world map, thereby increasing its powers of attraction to US investors especially.
The news was reported by national daily newspaper Berlingske Tidende.

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