Code Securities: Banking on a Biotech Revival
Executive Summary
When Chris Collins, former head of life sciences at WestLB Panmure, launched Code Securities in November 2003, he was taking a big gamble: biotech deals and IPOs are still at a low ebb, so is investor confidence. Collins is betting on a pick up, hoping that some of Europe's biotechs will see his experienced, dedicated team as a credible, more stable alternative to the bulge bracket banks, many of which were forced to abandon their smaller clients during the downturn.