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Germany's Biotech Bust

 
• By Hazel Dawson

Public markets around the world are down; Germany's Neuer Markt is also out. The demise of the exchange once hailed as Europe's most promising will hit more than just Germany's listed stocks. It affects the country's private sector, too, where young companies-and their investors-are frantically seeking ways to weather the storm.

If you had told enthusiastic investors in Germany's Neuer Markt during the heady days of 2000 that within three years the exchange would be dead, they would probably have laughed at you. The Neuer Markt, drawing in tens of Germany's fresh young biotechs, was hailed as the pan-European growth market, and companies flocked to join its ranks (see "Germany's Growth Story," START-UP, January 2001 Also see "Germany's Growth Story" - Scrip, 1 February, 2001.).

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