Ebb & Flow

Fundraising by private European biotech companies has rebounded in 2004 - at almost $1.2 billion it is already the third highest year ever - and the next couple of years could see more money available.

Last week, Advent Venture Partners raised £128 million ($250 million) in the first closing of its Advent Private Equity Fund IV (APEF IV). The fund will invest in life science, information and communications companies. Advent hopes to close APEF IV during the first half next year at £200 million ($390 million). ...