Biotech attracts increased VC interest

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Southern European biotechnology has experienced a renewed interest from venture capital players of late. Although total value invested reached a peak in 2001, the volume of deals carried out within the pharma and biotech industries soared in 2007, according to data from unquote".

A growing push to eradicate cancer and diabetes, as well as a new surge in vaccine development for infectious diseases and other factors have been mentioned as drivers for venture capital interest in the life sciences and medical devices area.

In Spain, newcomer Ysios Capital Partners will be raising EUR65m for its first fund, intended to be the largest biotechnology venture fund ever launched in Spain. The fund may have just gone to market, but it has already closed a EUR27m funding round for sector business Cellerix, alongside Life Science Partners.

In Italy, Finlombarda has backed a string of biotech business, including the recent funding for transgenic research business TOP (page 42). Other investors active in the sector in Italy include Quantica, Innogest and Sviluppo Imprese Centro Italia (SiCI).