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Article: London calling: Biotech start-ups are booming across the UK, and especially in London despite high rent and a shortage of space. (Feature).(Brief Article)
- Article from:
- Chemistry and Industry
- Article date:
- April 1, 2002
- Author:
CopyrightCOPYRIGHT 2002 Society of Chemical Industry. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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You might think that London would be the last place to start up a biotechnology company. The City has been burnt by the collapse of innumerable IT companies and is conscious of the possibility of a global recession.
Biotech stocks, noted for their volatility, may not seem the best place to put investor's money The recent collapse of German company Bioglan (banks foreclosed on debts of [pounds sterling]112m, $160m, on 21 February), and the widely publicised difficulties of Huntingdon Life Sciences and Monsanto, bear testimony to some of the problems that assail the sector. Add the soaring cost of commercial property in London and a crumbling transport ...