Biotech IPO monitor launched

04 June 2004

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Library House, the independent research house for the technology investment community, in association with Ernst & Young, has announced the publication of the first ever Biotechnology IPO Monitor. The Monitor comprises an annual review of the current status of advanced stage private biotechnology companies in the UK as well as an online update monitoring service. This is the first time that such detailed information on private companies in the biotech sector has ever been published. The annual review was compiled from the Library House database, which captures information on technology and biotechnology companies across the UK. It delivers previously inaccessible, highly detailed information comparing companies across the private and public markets in the UK, Europe and US. The review includes 29 UK biotechnology companies assessed to be potential IPO candidates in the coming 12-18 months, with one having gone public earlier this year. These UK companies are benchmarked against six leading European biotechnology firms, chosen by a team of experts and seven US companies, which were listed on NASDAQ in late 2003. It identifies three key characteristics, which indicate the maturity of a company for flotation on a public stock exchange - product pipeline, financial status and the board of directors. Amongst many other findings, it identifies one profitable company, five companies that are moving towards exhibiting product pipelines similar to the companies which recently went public, and seven which meet the recommended board composition needed for a flotation.