Danish biotech industry in need of further financing

In a survey published by the Danish daily newspaper Børsen, Handelsbanken Securities estimates that at least 20 Danish biotech companies are either in the process of raising fresh capital or are about to start looking for new money. The accumulated capital need, in the region of EUR 270-330m, follows a poor 2001 when biotech commpanies’ global value fell dramatically.

However, the outlook is not all gloomy. The recently announecd agreement between NeuroSearch and the German drug group Boehringer-Ingelheim was well received, as this not only secures the financing of Denmark’s biotech pioneer, but also adds vital information to the industry after the recent stream of bad news, particularly emanating from the US. In December, Genmab also delivered a breakthrough as the first Denmark-based biotech company to enter into clinical trials with its most advanced project.

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