Biotech financing beats record over record since beginning of 2014.
Financing has never been as high in Europe (though of course, we know this has always been the case for the US). Just look at Neil Woodford, famous british investor who raised €1.1Bn for its fund and injected it in many companies like Immuncore (2nd biggest VC round ever). Many EU Biotechs also caught the IPO “window” (financial term to say it’s time to go public) on the US/NASDAQ. Galapagos raised €277M, Cellectis €200M, and the latest example being Swiss Basilea, which has plans to raise €167M.
At least, there was lot a money, until…
…Until certain uncertainties started to emerge.
On September 21st, the financial crisis of doubt was sparked off by Martin Shkreli, a former hedge fund manager who thought it would be a good idea to buy an old drug (which has nothing to do with a biologicals) and increase its price by 5000%.