Taking AIM from the U.S.

U.S. biotechs may be the next group of companies to be lured to London's AIM market. Last week, Entelos Inc. announced plans to list on AIM while raising £20 million ($35 million), for an anticipated post-money valuation of at least £80 million ($140 million). Its supporters say the California computational biology company is the first of many that will take the transatlantic route.

Evolution Securities banker Matt Wood, Entelos' nominated advisor, argued that AIM has usurped NASDAQ as the pre-eminent market for small high tech, high growth companies. "Companies under $250 million have much more visibility on AIM than they do on NASDAQ," he said. "All the major international institutions are present in London. Without doubt, more U.S. companies will come."...