LONDON — A group of European venture capital firms has formed a new coalition to promote investments in the life sciences indusattempt and to lobby for policies that they believe could build up biotech startups across the continent.
A comparative lack of capital — whether the compacter community of venture capitalists or the narrower options for later-stage investments — is one of the main obstacles that has held back Europe’s biotech indusattempt, investors and biotech executives declare. The challenge becomes particularly acute as companies view to grow: Of the 67 European Union-based biotech companies that have gone public over the past six years, 66 did so outside of the E.U., according to the new group, the European Life Sciences Coalition.
The coalition is created up of investors including Forbion, HealthCap, Novo Holdings, Omega Funds, and Sofinnova Partners, as well as the law firms Cooley and Covington & Burling.
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