Navigation Links
Biotech Gets Back on Track in November
Date:12/1/2009

SAN FRANCISCO, Dec. 1 /PRNewswire/ -- The Burrill Biotech Select Index managed to claw back almost half the value it lost in October. The Select's gain of 4.5 percent mirrored what was also an excellent month for the general markets with the Dow up 6.5 percent and the NASDAQ up 4.8 percent in value. The gains held firm in the final two trading days of the month despite investor worries about sluggish Thanksgiving holiday shopping and Dubai's reported debt woes.

Almost all members of the Burrill Biotech Select Index saw their share values increase. Leading the group were Amylin Pharmaceuticals, Vertex Pharmaceuticals, and Biogen posting share jumps of 28, 15 and 10 percent respectively. On the negative side of the list were Illumina (-10 percent) and Affymetrix (-10 percent), whose shares continued to languish from soft sales outlooks reported in their third quarter financials in October.

"As we head into the final month of the year, biotech is poised to close in positive territory," said G. Steven Burrill, CEO, Burrill & Company, a San Francisco based global leader in life sciences with activities in Private Equity, Venture Capital, Merchant Banking and Media. "Although there is still some residual investor nervousness about the strength of the economic recovery there is no doubt that the markets are back on track and the biotech industry will certainly benefit from this in 2010.

"Biotech is also benefiting from big pharma's willingness to pay for its innovation. Partnering revenues have been a staple for many biotech companies throughout the year and, as a result, we are likely to see a record amount raised by US biotechs by the close of 2009," noted Burrill.

One headline deal in November, potentially worth $1 billion, involved Alder Biopharmaceuticals and Bristol Myers Squibb covering the development and commercialization of ALD518, a novel biologic that has completed Phase IIa development for the treatment of rheumatoid arthritis. Bristol-Myers Squibb an option to co-develop and commercialize outside the United States. In return, Bristol-Myers Squibb will pay Alder an upfront cash payment of $85 million, potential development-based and regulatory-based milestone payments of up to $764 million across a range of indications, and potential sales-based milestones which, under certain circumstances, may exceed $200 million. Alder also has an option to require Bristol-Myers Squibb to make an equity investment of up to $20 million in Alder during an initial public offering.

IPO watch

"Our prediction that we are likely to see an increasing number of biotech companies add themselves to the IPO runway in the final quarter of the year continues to be reinforced with four more companies filing in November," added Burrill.

These companies are:

- Ironwood Pharmaceuticals: hoping to raise up to $173 million in an initial public offering. Linaclotide, the company's first in class compound, is being evaluated in a confirmatory Phase III program for the treatment of irritable bowel syndrome with constipation and chronic constipation. Ironwood has already raised $306 million in private equity financing and recently announced that it had partnered with Japanese pharmaceutical powerhouse Astellas granting them exclusive rights to develop and commercialize linaclotide in Japan, Indonesia, Korea, the Philippines, Taiwan, and Thailand.

- Trius Therapeutics, which focuses on the discovery, development and commercialization of antibiotics for serious infections, filed to raise up to $86 million. The San Diego, CA-based company, is planning two phase III trials of the second-generation oxazolidinone that inhibits bacterial protein biosynthesis to treat serious Gram-positive bacterial infections.

- Alimera Sciences, developing products that treat retina-related diseases, filed to raise up to $80 million. Presently the company is focused on diseases affecting the retina. Its most advanced product candidate is Iluvien®, which is being developed for the treatment of diabetic macular edema.

- Durham, North Carolina based Aldagen also took its place in the queue of companies hoping to go public in the coming months as the IPO window begins to open. The company, which develops regenerative cell therapies, had initially filed to go public in May 2008 but withdrew those plans last October when the stock market melted down. The company hopes to raise an estimated $80.5 million in an initial public offering to fund a phase III trial of its most advanced therapy for the treatment of critical limb ischemia.

By the numbers

(From the monthly Burrill Report (www.burrillreport.com)

Number of public companies: 317

Biotech Industry Market Cap: $342.6 billion (up 6.3 percent for the month ending 11/30/09)

November Indices:


                                                    %          %
                                               change     change
INDEX         12/31/08  10/30/09   11/30/09     Month       Year
Burrill
 Biotech
 Select         300.33    284.65     297.48      4.51%     -0.95%
Burrill
 Large Cap       379.7    431.13     455.61      5.68%     19.99%
Burrill Mid-
 Cap            139.39    151.29      157.5      4.10%     12.99%
Burrill
 Small Cap       78.35     87.74      86.05     -1.93%      9.83%
Burrill
 Genomics        59.69     113.9     144.84     27.16%    142.65%
Personalized
 Medicine        79.63     86.72       87.8      1.25%     10.26%
NASDAQ         1577.03   2045.11     2144.6      4.86%     35.99%
DJIA           8776.39   9712.58   10344.84      6.51%     17.87%
Amex Biotech    647.15    820.99     888.15      8.18%     37.24%
Amex Pharma     272.84    287.25     306.27      6.62%     12.25%


About Burrill & Company

Founded in 1994, Burrill & Company is a San Francisco-based global leader in life sciences with activities in Venture Capital, Private Equity, Merchant Banking and Media. The Burrill family of venture capital funds has over $950 million under management and its merchant banking business is one of the industry leaders in life sciences transactions. Burrill is also the creator, sponsor and facilitator of leading industry conferences worldwide and publisher of the monthly The Burrill Report (www.burrillreport.com) which tracks the progress of the global biotechnology industry and annual "State of the Industry" report. (www.burrillandco.com)

SOURCE Burrill & Company


'/>"/>
SOURCE Burrill & Company
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Spherix Shareholders Support Companys Focus on Naturlose, Biotechnology
2. China Kangtai Cactus Biotech Files 2nd Quarter 2007 10QSB and Announces Unaudited Quarterly Results
3. ISI Increases West Coast Life Science and Biotech Support for Emerging Companies with Expansion in San Francisco and San Diego
4. Amyris Biotechnologies Co-Founder Neil Renninger Named to Technology Reviews Prestigious TR35 List of Top Young Innovators
5. Finkelstein Thompson LLP Announces GPC Biotech AG Investigation
6. Operon Biotechnologies and DNA2.0 Announce Co-Marketing and Technology Development Partnership
7. Clinical Data Acquires Epidauros Biotechnologie AG, Significantly Enhancing Proprietary Genetic Biomarker Portfolio
8. Microchip Biotechnologies, Inc. Secures Exclusive License to Use New University of Alberta Technology for Developing Microfluidic Devices
9. Shareholder Class Action Filed Against GPC Biotech AG by the Law Firm of Schiffrin Barroway Topaz & Kessler, LLP
10. Favrille CEO to Present at NewsMakers in the Biotech Industry Investment Conference
11. NeurogesX to Present at BioCenturys NewsMakers in the Biotech Industry Conference
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/24/2017)... ... May 24, 2017 , ... Today, the South Davis ... Advanced Biological Nutrient Recovery (ABNRâ„¢) technology at its 4,000,000 gallon per day South ... to sustainably meet current and future nutrient discharge regulations. The ABNR platform, which ...
(Date:5/24/2017)... Ebola resurfaces in the Democratic Republic of Congo ... reported, a new analysis of the Ebola gene polymerase Replikin ... 2014 and 2017 outbreaks of the disease.  ... the 2014 outbreak. An analysis of the latest data showed ... which again precedes the current outbreak in the DRC. Sequence ...
(Date:5/23/2017)... ... 2017 , ... Genedata, a leading provider of advanced software ... a strong presence at Bio-IT World Conference & Expo 2017 in Boston, MA. ... all attendees to view posters on the entire range of Genedata software ...
(Date:5/23/2017)... ... May 23, 2017 , ... Energetiq Technology, ... announced a facility expansion to accommodate its rapid growth. , The renovations at ... and renovation of the existing areas. The expansion includes, a state-of-the-art engineering facility, ...
Breaking Biology Technology:
(Date:3/28/2017)... , March 28, 2017 ... Biometrics), Hardware (Camera, Monitors, Servers, Storage Devices), Software (Video ... and Region - Global Forecast to 2022", published by ... in 2016 and is projected to reach USD 75.64 ... 2017 and 2022. The base year considered for the ...
(Date:3/23/2017)... 2017 The report "Gesture Recognition and Touchless Sensing Market ... - Global Forecast to 2022", published by MarketsandMarkets, the market is expected to ... between 2017 and 2022. Continue Reading ... ... ...
(Date:3/22/2017)... LIVERMORE, Calif. , March 21, 2017 ... recognition analytics company serving law enforcement agencies, announced today ... Sheridan as director of public safety business development. ... of diversified law enforcement experience, including a focus on ... Vigilant. In his most recent position, Mr. Sheridan served ...
Breaking Biology News(10 mins):