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Business Week: Medicon Valley leads biotech growth
The US magazine Business Week denotes Medicon Valley as a thriving bioregion being characterized by strong venture capital, impressive deals with small biotech and big pharma and laws that let scientists own their research.
Only a decade old, the Swedish biotech industry is starting to set the pace in Europe. Fledgling companies are attracting foreign and Scandinavian investors, striking lucrative deals with pharmaceutical giants and outperforming many of their peers on European stock markets.
- There is a substantial amount of money going into Swedish biotechnology, one of the key clusters for innovation in Europe, says Dr. Eugen Steiner, a partner at venture capital firm HealthCap in Stockholm.
Medicon Valley leads growth
Much of the activity is based in Medicon Valley, now home to more than 300 biotech companies. The area, which spans from the Scania region in southern Sweden to the outskirts of Copenhagen, Denmark, was Europe's fastest-growing biotech cluster in 2006, as measured by products under development.
According to a Boston Consulting Group study, Medicon Valley is surpassed only by Cambridge, England, in life sciences research and development.
Read the entire article here.
