Another life sciences IPO pitch in U.K. raises hopes for upturn

Fresh signs of life on the public markets are beginning to appear for the U.K.'s life sciences community. Horizon Discovery Group, which makes and sells tools for genomics research and personalized medicines, has set out to raise about $41.5 million on the AIM market on the London Stock Exchange. The filing follows a $285 million whopper from Circassia. U.K. biotechs have been buzzing for weeks about Circassia's pitch, hoping that a successful IPO will open the doors for other biotechs looking to raise cash from a long-closed source. Unlike the U.S., which has seen a boom in biotech IPOs, European companies have largely remained locked out of the market, with investors still leery over the risk involved in drug development. Release

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