Zealand Pharma (Denmark) withdraws IPO.
Zealand Pharma announced today that they have withdrawn their IPO due to lack of investor interest. The company will continue its development of drug candidates. News Source: Reuters
As published 2005-12-02
The IPO of Zealand Pharma will be the second biotech-IPO in Copenhagen in 2005 following that of TopoTarget that went public in June. The IPO of Zealand Pharma will be the third exit in Medicon Valley within five weeks – in November, the young Medicon Valley companies Gastrotech Pharma and Survac were acquired by respectively US-based DOR ($ 30 Mio.) and Merck (EUR 11 Mio.).
Successful exits strengthen the commercial attractiveness of Medicon Valley biotech companies among investors since the investors here are awarded for their trust, patience and risk willingness. With investments in small and medium sized companies exceeding EUR 300 Mio., 2005 seems to be the best year in Medicon Valley since 2000. More capital in Medicon Valley R&D companies means more employees, and this will boost the innovation capacity in the region. So we are facing a very positive and interesting period in the Medicon Valley era, strengthening the position as one of the most attractive bioregions in Europe!
News Source: Niels Gerner Larsen, Medicon Valley Academy.
Visit the website of Zealand Pharma here.
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