The First European Advanced Therapies Investor Day Starts With A Bell Ceremony At Euronext Brussels, Highlighting The Potential Of This Growing Biotech Sector: IntercontinentalExchange Group, Inc
11/27/2013 9:33:50 AM
Brussels, Belgium, November 27, 2013 – Leaders of European advanced therapies companies meet with investors, brokers, analysts and journalists to showcase the potential of new cell-, tissue- and gene-based therapies and discuss investment strategies. Eduardo Bravo, chair of the Alliance for Advanced Therapies opened the European stock markets of Euronext N.V. in Brussels, a wholly owned subsidiary of IntercontinentalExchange Group, Inc. (NYSE:ICE), with a bell ceremony for the first meeting of its kind in Europe.
The emergence of a growing biotech sector
“We are delighted to sponsor this first meeting devoted to the financing of companies developing advanced therapies. Three European companies have gone public since the beginning of 2013: Prosensa (Netherlands), Erytech Pharma (France) and Cardio3 BioSciences (Belgium). We anticipate that many more will follow in the coming years,” said Vincent Van Dessel, chairman and chief executive officer of Euronext Brussels.
A survey carried out by the Alliance for Advanced Therapies engaged 40 companies active in advanced therapies. The findings reveal that more than a third of the companies devoted to the development of advanced therapies have been created in the last 5 years. This is an emerging new industrial sector comprised of small and medium size enterprises (SMEs) with an average of 30 employees. Each company spent an average of EUR 6 million in R&D activities during 2012.
Eric Halioua, chair of the Finance Committee at the Alliance for Advanced Therapies and CEO of Promethera Biosciences oversaw the survey. He said; “Despite their size and very limited R&D investments compared to big biopharmaceutical groups, European SMEs can be extremely effective: two of the four advanced therapies approved to date in Europe have been developed by Europe-based SMEs. Our survey shows a surge in the number of products in clinical development, of which 25 per cent are in phase III clinical trials (the last stage of clinical development). Interestingly, we see an increasing number of big biopharmaceutical companies now partnering with, or acquiring these companies, or investing internally to develop their own pipeline of advanced therapies products.”
Access to capital is critical for the development of advanced therapies companies
Europe is lagging behind the USA with regard to access to capital. Where three European biotech companies have gone public since the beginning of this year, 36 US companies made debuts on American exchanges during the same period. However there are some remarkable differences; all of the European firms that went public this year had compounds in late-stage development when staging their IPO whilst only a minority of the US companies making an IPO this year were in the same situation. In short, in Europe there are fewer companies and they have to wait longer before going on the public market.
“European companies rely heavily on public funding in their start-up and early development phases but when their lead product reaches the clinical testing stage, particularly when large clinical trials should start, the search for venture funding becomes critical for their survival” said Eduardo Bravo, chair of the Alliance for Advanced Therapies and CEO of TiGenix. “Equity is the most effective financing tool to grow SMEs but the financial crisis has provoked a sharp decrease in Europe’s venture funding capital community and a significant reduction in the number of specialized investors. There is a need for more mechanisms such as fund-of-funds in Europe, to channel capital to successful venture teams or fiscal incentives for investors in public SMEs”, he added.
This meeting aims to discuss the latest developments, trends and potential of these new drugs and the investment strategies. It is a brand new showcase to investors within the vibrant landscape of advanced therapies development.
About the Alliance for Advanced Therapies
The Alliance for Advanced Therapies’ mission is to improve the legislative, business and science climate for advanced therapies innovation in Europe. In order to do this, AAT promotes the interests of its members and the advanced therapies sector in Europe.
AAT coordinates input to, and exchanges information with, relevant European authorities. The Alliance also increases awareness of the sector among all relevant stakeholders, with a special focus on investors. Furthermore, AAT promotes increased funding for the sector from public and private sources.
More information on http://www.allianceat.org
About IntercontinentalExchange Group, Inc.
IntercontinentalExchange Group, Inc (NYSE:ICE) is the leading network of regulated exchanges and clearing houses for financial and commodity markets. ICE delivers transparent, reliable and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.
Trademarks of ICE and/or its affiliates include IntercontinentalExchange, ICE, ICE block design, NYSE Euronext, NYSE, New York Stock Exchange, LIFFE and Euronext. Information regarding additional trademarks and intellectual property rights of IntercontinentalExchange Group, Inc. and /or is its affiliates is located at https://wwwtheice.com/terms.jhtlm and http://www.nyx.com/terms-use
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