Nordic biotechs yielded some of Europe’s biggest biotech funding rounds in July, as did developers of cultured meat and other protein alternatives.
July saw a continuing buzz of biotech fundraising activity in Europe. In the venture capital arena, the investors Sofinnova and Panakès Partners closed new funds to target life sciences companies, including those in the medtech sector. Meanwhile, the UK government laid out the red carpet for an initiative to pump over €235M (£200M) into biotech investment funds.
In the realm of public biotech companies, stock prices — as seen from the Nasdaq Biotech Index — seem to be slowly recovering from drops earlier in the year.
The biggest biotech initial public offering (IPO) from a European company was the €197M ($234M) Nasdaq listing of the Swiss genomic medicine player SOPHiA Genetics. Runners up included the Belgian agricultural biotech Biotalys, which yielded €54.6M in Euronext Brussels, and the UK firm Poolbeg Pharma, which raised €29.2M (£25M) on the London-based stock market AIM.