Ebb & Flow

International Biotechnology Trust (LSE:IBT, London, U.K.) is on the road looking to raise up to £60 million ($118 million) in series C shares. The firm is hoping to tap into what it sees as increasingly positive sentiment towards biotech among U.K. investors.

"There is a growing belief among some institutions and high net worth individuals that biotech is the new pharma. We are hearing that they want to trim their pharma exposure and would like more access to the beta of biotech," portfolio manager Andy Smith told Ebb & Flow. ...