BioCentury
ARTICLE | Finance

Europe's Iceberg II

May 12, 2003 7:00 AM UTC

A growing group of maturing European biotech companies has quietly reached the expensive part of the drug development process, giving the sector the opportunity to create a new generation of product-oriented companies without the baggage of the genomics bubble.

Indeed, funded by some E3.3 billion since the beginning of 2000, a mounting number of still private companies are approaching clinical milestones. With the bulk of Europe's public biotech sector now orphaned, the development of a product-oriented base could offer Europe a cohort of new bellwether companies whose accelerating clinical progress could rekindle investor interest in the sector...