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Early-Stage

In the October 2006 edition of the PharmaVentures Business Review, we explore the current climate of early-stage financing for biotech companies in both the US and European funding sectors. We review the trends in finance availability from major US funding sources such as the National Institutes for Health and Venture Capital organisations, and discuss the early-stage financing of biotech companies in Europe with our panel of industry experts from both the financial and biotech sectors. We also have the usual monthly round-up of major deals and transactions, including the recent M&A activity involving Europe's mid-size pharmaceutical companies.

To learn more about the major deals and transactions from the previous month’s industry activity, you should view PharmaDeals Intelligence bank, a comprehensive and global source of deals information. With financial information, news alerts and legal agreements, this searchable resource, which is compiled by analysts and consultants, is an essential deal making tool.

• Merck's US$13.3 B acquisition of Europe's largest biotech company Serono.
• Novartis' and Cell Therapeutics' licensing agreement for the development and commercialisation rights to the anticancer product Xyotax™
• The sale of Altana's pharmaceutical business to Nycomed for a total of US$5.75 B.
• UCB's friendly offer to acquire the German pharmaceutical company Schwarz Pharma for US$5.6 B.

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The Month in Review

Analysis and insight of the following deals from the previous month's industry activity:

To learn more about the major deals and transactions from the previous month’s industry activity, you should view PharmaDeals Intelligence bank, a comprehensive and global source of deals information. With financial information, news alerts and legal agreements, this searchable resource, which is compiled by analysts and consultants, is an essential deal making tool.

• Merck's US$13.3 B acquisition of Europe's largest biotech company Serono.
• Novartis' and Cell Therapeutics' licensing agreement for the development and commercialisation rights to the anticancer product Xyotax™
• The sale of Altana's pharmaceutical business to Nycomed for a total of US$5.75 B.
• UCB's friendly offer to acquire the German pharmaceutical company Schwarz Pharma for US$5.6 B.

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The Business

In this month's Business Report we discuss the current climate for the early-stage funding of biotech companies in the US. We explore some of the options open to biotech entrepreneurs in order to secure the crucial finances necessary to start a successful business. We assess the trends in early-stage funding awarded by the US National Institutes of Health SBIR and STTR grant programmes and take a closer look at how early-stage funding from Venture Capital sources has changed over the last decade.

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Meet the Experts

Fintan Walton leads our panel of industry experts in an in-depth discussion about the early-stage financing of biotech companies in Europe. With viewpoints from both financial and biotech companies, our panellists provide a refreshing perspective on the current issues that face would-be CEOs, trying to secure seed capital in Europe's biotech start-up arena.

On our expert panel this month:

Dr Matthew Frohn,
Director of Oxford Technology Management,
Oxford Technology Venture Capital Trusts

Dr Tom Geimer,
Venture Partner,
Heidelberg Innovations

Dr Steven Powell,
CEO,
Plethora Solutions