Paion (Germany) first IPO of the year for European Biotech

Paion, a German firm whose flagship product is a anticoagulatant based on a protein from bats saliva, is looking to raise more than 70 million euros on the stock market in early Febuary.

The drug, desmoteplase, can be used in the treatment of stroke victims and can help dissolve blood clots in the brain. The shares are scheduled to start trading on the 10th febuary with a possible valuation of the company of 200 million euros.

It will be interesting to see the results of this IPO, as it is probably only the first of several to come from within Europe this year and represents a shift away from last years activity, which was mainly centered on the UK.

News Source: BBC news