Nice to see BioShares touching on PYC amongst others in the Herald Sun today....
It is always another way to look at the private placement as being more so an act of pulling the heavy hitters on board to drive the price & take the reigns on high level negotiations as opposed to just the first impressions of the dilution and gift level entry.
Time will tell
Recent buy-ups open bio sphere
Herald Sun April 16, 201112:00AM Olga Galacho
THE spate of overseas takeovers and partnerships targeting some of Australia's most successful biotechs is set to open up a second tier of up-and-coming companies to foreign investment, according to analysts.
Global pharmaceutical companies, whose patents over blockbuster drugs are expiring over the next few years, will be keen to restock their pipelines with promising therapies being developed by biotech companies.
Tier-one biotech stocks that have in the past 24 months succeeded in gaining investments or partnerships worth hundreds of millions of dollars include Arana, Heatware, Peplin, Chemgenex, Cellestis, Biota and Acrux.
Among the minnows that may attract interest from suitors are Sunshine Heart, Patrys, Somnomed, Cogstate, Atcor Medical and Phylogica, claimed industry expert David Blake.
The sector was yesterday singled out by Financial Services Minister Bill Shorten as an Australian industry that welcomed and prospered from foreign investment.
Mr Shorten described deals by stem cell therapy company Mesoblast and hormone delivery specialist Acrux as examples of "foreign investment that has helped build the innovation dynamo and modern competitiveness of our economy".
The combined potential value of the deals exceeds $2 billion and indicates the growing maturity of a sector traditionally seen as speculative, outside the three big biotechs -- CSL, ResMed and Cochlear.
David Blake told BusinessDaily that when he began publishing industry newsletter BioShares for investors 10 years ago, it included more "penny stocks" than it does today.
"In a decade, you've seen biotech stocks becoming less speculative, with some of them no longer speculative at all," Mr Blake said.
Liver cancer drug developer Sirtex Medical was one such company, Mr Blake said.
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