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Science, the State, and the CityBritain's Struggle to Succeed in Biotechnology$
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Geoffrey Owen and Michael M. Hopkins

Print publication date: 2016

Print ISBN-13: 9780198728009

Published to Oxford Scholarship Online: May 2016

DOI: 10.1093/acprof:oso/9780198728009.001.0001

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A Second Chance for UK Biotech

A Second Chance for UK Biotech

(p.114) 5 A Second Chance for UK Biotech
Science, the State, and the City

Geoffrey Owen

Michael M. Hopkins

Oxford University Press

In the immediate aftermath of the financial crisis, the flow of bad news from the UK biotech sector continued, with several corporate collapses reinforcing the reluctance of investors and their financial advisers to put money into biotech firms. By 2014, however, the clouds were beginning to lift, thanks in part to the booming demand for biotech stocks on NASDAQ; the resurgent enthusiasm for the sector among US investors began to spread across the Atlantic, allowing several European firms to float their shares on their local exchanges. In the UK the flotation of Circassia on the LSE’s main market—the first such IPO since 2006—was followed by several more flotations, mostly on AIM. At the same time there was an encouraging increase in venture capital funding for unquoted firms.

Keywords:   Circassia, recovery, institutional investors, NASDAQ, government policy

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