Reneuron plc's capital increase of 68.4 million pounds (106 million US Dollars) is further evidence that the state financial environment of European biotech companies is still unstable.
Throughout Europe, there are cases when companies collect money, through IPO and through secondary offers, at a rate that has not been observed since the beginning of the century. According to the annual European report on life in the world in 2001, European biotechnology attracted more than 2.95 billion euros in investments in IPOs and another 2.447 billion euros in other proposals.
If the current trend continues, although the unfolding crisis in the Eurozone may well undermine it - then this industry has a good chance of raising this figure. By the end of last week - in just six months - European firms received about 1.582 billion US Dollars in IPO.
For European biotechnology, Nasdaq remains the most hospitable environment. Nine companies, most of which have already been registered on their own stock exchanges, raised a total of 993 million US Dollars.