BioXell: A New Beginning for Italian Biotech
The creation of Roche spin-off BioXell may signal a change in Italy's hitherto unfriendly biotech environment. Yet much remains to be done.
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How the Fund-Raising Game Works in Europe
A handful of private European biotechs have raised money, but the process takes time, and the sums aren't great. Since VCs can invest in late-stage companies at the same prices they used to pay for newer ventures, early and mid-stage biotechs are being forced to broaden their search for funds, and meet growing demands for cost cutting and detailed spending plans. Both VCs and biotechs may emerge stronger from the squeeze, however.
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Starting out with a CNS research program left behind in the restructuring that created Pharmacia Corp., Newron Pharmaceuticals SPA has launched a program to develop ion channel-targeted drugs for epilepsy, neuropathic pain, Parkinson's disease and other neurodegenerative disorders.
Biovitrum: A New Flavor of Spin-Off
Pharmacia spin-off Biovitrum, like other biotechs born out of Big Pharma, has found favor with investors seeking experienced management and advanced programs. But Biovitrum's size, cash flow, and independence appear to make it more attractive still.