The world's largest research-based pharmaceutical company Pfizer plans to increase its investments in biotech, and has expressed interest in companies in Medicon Valley, writes financial daily newspaper Børsen. Pfizer plans to spend USD 50 m annually on venture investments in biotech globally.
Barbara Dalton, deputy director of Pfizer's venture capital division says to Børsen that Pfizer is looking in all directions where there are promising developments: "There is good science in this region [Medicon Valley], so it would not surprise me if we invest here."
Denmark has a number of companies which are developing drugs for the treatment of diabetes, obesity and cancer. These are all growth areas that are closely associated with parts of the world population becoming more wealthy, more obese and older.
"I think these are the biggest areas of interest for all the major pharmaceutical companies. It means that biotech in Medicon Valley should get attention from many of them," comments Dalton.
Dalton praises the business culture in Medicon Valley and in particular a recent initiative of the Novo Nordisk Foundation to support start-up companies in biotech. "I think that in the current market environment there are better opportunities for small companies here than in the US. The valuation in Europe and Scandinavia is better than in the US when you look at the IPO opportunity," says Barbara Dalton.
The number of drug candidates currently under development in Denmark in major treatment areas are: skin diseases 11, cancer 90, diabetes 10, inflammatory conditions 70, and CNS diseases 35 (source: Copenhagen Capacity and Invest in Denmark).