The venture capital market in Europe has staged something of a recovery of late – but it is still only the very best companies that are attracting the funding. In the US, the market remains strong, with a number of American biotech companies raising significant amounts of cash recently. And valuations there are rising.
”Underlying the sector is a real investment proposition which is that patients need better drugs,” says Jo Anderson, a partner at venture capital company Abingworth. “It’s moved on from being a speculative sector – real drugs are coming out to meet a real need.”
