Ebb & Flow

While companies in other industrial sectors have been forced to pull planned IPOs, the European appetite for biotech remains strong. Thus a number of continental European biotech companies are rushing to complete IPOs before the summer break. The pan-European Euronext appears to be the favored exchange of the latest batch, although Frankfurt may also see its first biotech IPO since Jerini (FSE:JI4) floated last fall.

Indeed, the latest entry to the IPO queue, but possibly the next to list, is German dermatology company BioFrontera, which is looking to raise E28.5 million ($36.7 million) by selling 1.9 million shares on Frankfurt's Prime Standard exchange. DZ Bank is joint lead manager and sole bookrunner, and Viscardi Securities Wertpapierhandelsbank and quirin bank are co-lead managers. ...