Rheoscience focuses on target discovery in diabetes, obesity and the metabolic syndrome. To fund its target discovery activities, the company also provides preclinical research services, offering access to a range of novel animal models for validating experimental data and for use in the preclinical and early clinical phases of the drug discovery process.
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Encouraged by successes in the biotech space, public market investors' interest in the device arena has returned in 2004 to support 10 companies' IPOs so far. Windhover's analysis of the valuations achieved indicate that private investors in these companies have, on average, enjoyed larger returns than their biotech counterparts.
Europe's pre-emption rights significantly hamper biotech fundraising. But since they're unlikely to go away, European firms are having to find clever ways around them.