Global woes bode worse for biotech

No matter how good the news coming from U.K. biotech companies, investors have continued to ignore the sector. Now, with the global market downturn, it has become even harder to find investors for biotech in London, and the worries are beginning to extend to continental Europe.

"While there has been some recovery in the state of the capital markets for the U.S. biotech sector, in the U.K. the situation is still under great pressure. The market is not reacting positively even when companies are delivering apparently good news," said Nomura banker David Porter.