Biotech Finishes on a High in August, Burrill R...(t is promoting 'wellness'. Theera of per...),Health

Date:9/4/2007

t is promoting 'wellness'. The era of personalized medicine is upon us...one that emphasizes predictive and preventive medicine," Burrill continued. "Not surprisingly, diagnostics and nutraceuticals companies have been very successful riding this new paradigm. The Burrill Diagnostics Index, this year to date, for example, is ahead of all other indices and heading into the fall, which is traditionally good for biotech, we expect this trend to continue. In addition, we are seeing companies focused in the personalized medicine space beginning to file for IPO's and test the appetite of investors for this new market opportunity."

FDA and biotech

Over the next few months the FDA is scheduled to pass judgment on at least 12 biotechnology-produced medicines. Success for a majority of these could spell a major surge in the industry's fortunes. "We have already seen a prelude to this with the 42% surge in the value of Onyx Pharmaceuticals' shares in August following positive clinical data," noted Burrill, "Onyx and its partner Bayer AG announced an early end to a trial its drug Nexavar in advanced hepatocellular carcinoma. Having been granted priority review status by the FDA, the drug is on the fast track for regulatory clearance."

Biotech IPO review

It was another slow month for biotech IPOs with only two companies getting their offerings completed. WuXi PharmaTech, a China-based pharmaceutical and biotechnology research and development outsourcing company. The firm raised $212 million offered 15.1 million ADSs, including an over-allotment, at $14 per ADS, a 16.6% premium to the midpoint of its proposed $11 to $13 range. The company's shares closed the month at $26.25 up 87%. Sucampo Pharmaceuticals, an emerging pharmaceutical company focused on the discovery, development and commercialization of drugs based on prostones, a class of compounds derived from functional fatty acids that occur naturally in the human body. The company priced its 3.75 milli
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SOURCE Burrill & Company Copyright©2007 PR Newswire. All rights reserved

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