Biotech sector will see deals increase as financial markets improve, says Cheryl Reicin to Reuters

Money Slowly Returning to Canada's Biotechs

February 12, 2010

Canada is seeing life return to its life sciences industry after a long drought as money flows into the sector from venture investors and drugmakers eye equity issues on U.S. markets, says Cheryl Reicin.

2010 will not be a banner year for the industry, but it will be a major improvement over last year. "Everybody wants back in," says Cheryl. "The companies in the life science area are desperate for the cash and the bankers want to get the deals done because it (the sector) has been closed for a long time."

A number of Canadian companies are planning to raise cash through equity issues on U.S. markets this year, adds Cheryl, as Canada's battered biotech sector catches up with a recovery that has already begun in the United States.

Read the full article here (PDF).

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