Reuters UK – Bombed-out valuations present an unprecedented buying opportunity in the European biotech sector, according to venture capital firm Index Ventures, which is eyeing both early and late-stage opportunities.
"It’s like being in a candy shop," partner Francesco De Rubertis told Reuters. "I’m very optimistic about the fact that a year from now, or a year and a half from now, the market will be very high."
He sees a major disconnect in current pricing for biotech assets, with Big Pharma companies regularly paying 50 to 100 percent takeover premiums for businesses that have been shunned by risk-averse investors.
Europe is a particularly fertile ground because of its relative immaturity.