FinlandFinland

Brakes slam on VC investment

19.09.2009

Helsinki – According to a new survey, Finnish high-tech growth companies raised almost a51m in the first half of 2009, 17% down on the first half of 2008. Second quarter funding decreased by more than 50% from the same period in 2008.
Carried out by international valuation practitioner Technopolis, the survey reviewed capital raised by private Finnish high-tech companies from venture capital funds and from angel investors, both Finnish and foreign. It drew on both public and undisclosed information from 140 Finnish and foreign investors, and 1,500 Finnish high-tech firms, including ones from the software and ICT hardware sectors, nano­technology and the life sciences.
The authors say the study shows the clear impact of the global slowdown in venture capital. “More than 50 companies are seeking to raise funds right now in the Finnish market. We hope that the environment will improve in the second half of the year,” said Will Carwell, CEO of Technopolis Ventures.
Out of all the funds raised in the first half of 2009 by 29 companies, around EUR16m were attracted by the life sciences sector. Overall, the funds came from both domestic (EUR24.5m) and foreign (EUR22m) venture investors. According to the study, the average investment per company was EUR1.8m. 27 investment rounds were closed by seed and early stage companies, and no exits occurred.

FinlandFinland

08.03.2012

The vaccine research centre of the University of Tampere in Finland has out­licenced a candidate combined prophylactic vaccine against norovirus and rota­virus infections. The Japanese vaccine venture UMN Pharma Inc. acquired the...

FinlandFinland

07.03.2012

Finnish protein manufacturer Vectron Biosolutions AS has completed a study comparing different expression technologies. According to Vectron, their proprietary E. coli expression technology gave higher yields for seven out of ten...

FinlandFinland

02.03.2012

Lappeenranta – Finnish paper industry major UPM plans to invest in an industry-scale biorefinery producing biofuels from crude tall oil, a by-product of the wood pulp manufacturing process. UPM’s total investment will amount to...

FinlandFinland

18.12.2011

Helsinki/Göttingen – Finnish laboratory supplier Biohit Oyj has sold its liquid handling business for €68m to German process and labtech provider Sartorius AG. Osmo Suovaniemi, founder and Chairman of the Board at Biohit,...

FinlandFinland

17.12.2011

Porvoo/Chalfont St. Giles – GE Healthcare and Neste Jacobs have formed a strategic alliance to drive worldwide self-sufficiency in blood plasma fractionation. Finnish-based Neste Jacobs Oy, a global expert in plant engineering...

FinlandFinland

31.10.2011

Bresso/Turku – The wedding's off between Newron and Biotie. The bride has run away. Shares in Italy's Newron Pharmaceuticals plunged after its proposed merger with Biotie Therapies Corp was called off by the Finnish firm....

FinlandFinland

28.09.2011

Turku/ Bresso – It is both good and bad news for the Italian biotechnology sector: Finnish Biotie Therapies ASA has signed an agreement to acquire Newron Pharmaceuticals S.p.A. for €45 million. On the down side, Italy loses one...

FinlandFinland

04.04.2011

Hafnarfjodur – Actavis Group CEO Claudio Albrecht announced at the beginning of February that the company may go public within the next 2-3 years, although it isn’t clear whether the generics manufacturer would conduct an IPO,...

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