Monday, March 20, 2000
OXFORD-Ever since 1996, when Jürgen Rüttgers, then
German federal minister for research, science, technology and education, unveiled
his ambitious BioRegio program to stimulate biotech entrepreneurship, critics
warned that it would never lead to sustainable companies. But those critics
now may find themselves having to eat their words, as two of Rüttgers'
babies today planned to announce that they are acquiring U.S. companies.
In both cases, easier access to capital at robust valuations
in Germany last year paved the way for the transatlantic deals. And although
the financing dynamics now have changed, the argument for European companies
to go global promises to remain.