LONDON — A group of European venture capital firms has formed a new coalition to promote investments in the life sciences industry and to lobby for policies that they believe could build up biotech startups across the continent.
A comparative lack of capital — whether the smaller community of venture capitalists or the narrower options for later-stage investments — is one of the main obstacles that has held back Europe’s biotech industry, investors and biotech executives say. The challenge becomes particularly acute as companies look to grow: Of the 67 European Union-based biotech companies that have gone public over the past six years, 66 did so outside of the E.U., according to the new group, the European Life Sciences Coalition.
The coalition is made up of investors including Forbion, HealthCap, Novo Holdings, Omega Funds, and Sofinnova Partners, as well as the law firms Cooley and Covington & Burling.
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