BioCentury
ARTICLE | Finance

Thallia throws in the towel

October 18, 1999 7:00 AM UTC

Thallia Pharmaceuticals S.A. is a new victim of the mid-life crisis hitting European private companies. On the brink of its first product sales, the pharmaceuticals and nutraceuticals company failed to raise the FF50 million ($8.1 million) it needed from its latest round of financing and instead has gone into liquidation.

While money is available for European start-ups, companies looking for additional developmental cash are finding the capital markets tight, a situation already encountered by Axis Genetics plc, the plant-based vaccine company in the U.K. (see BioCentury, Sept. 13). ...