Last year was a banner year for venture capital financing in New England according to the PricewaterhouseCoopers 2006 Annual Report on Venture Capital Investment in the New England Industries. Biotechnology firms received $831.3 million in 68 deals, driven by a strong showing in companies developing therapeutics.
But financial challenges continue. Much of this financing does not take a company through drug trials. Further, investment in biotechnology is undergoing substantial challenges.
"Analysts are predicting fewer initial public offerings and tightening of belts by small cap companies," says Papadopoulos. "In the midst of this negativity one positive trend has been the increase in acquisitions of private biotech companies by large pharma companies at prices that are often much higher than those that could be attained through an IPO. The most attractive private companies in this acquisition cycle have been those with robust technology platforms with clear product definition. In an environment where innovation is playing an ever decreasing role in the IPO market, this is the kind of reassurance our industry needs to continue investing in cutting edge technologies.
"In this environment, companies need to break out of the pack, which makes investor conferences such as the MASS Opportunities Investor Conference so vital," says Papadopoulos. "If you aren't discussing the promise of your company with other executives, you are being left behind."
The program features individual public and private company
presentations, an informative round-table, investor panels, industry
presentations, a networking cocktail reception and a Pharma/Big Biotech
|SOURCE Massachusetts Biotechnology Council|
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