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GlaxoSmithKline (GSK) Spin-Off Convergence Pharmaceuticals Gears Up For Possible Listing


6/16/2014 6:30:13 AM

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LONDON, June 16 (Reuters) - Convergence Pharmaceuticals, a specialist pain drug company spun off from GlaxoSmithKline , is preparing for a possible stock market listing as British biotech companies enjoy a revival of interest from investors.

The European sector has been slow to catch up with its U.S. peers, which have seen a renaissance in the past two years, but since allergy drug developer Circassia raised 200 million pounds ($335 million) in March - the biggest London market debut in years for a biotech company - the wider industry's fortunes have turned.

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