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Biotech / Medical : Munch-a-Biotech Today -- Ignore unavailable to you. Want to Upgrade?

To: tuck who wrote (1318)	6/21/2002 3:10:14 PM
From: nigel bates	Read Replies (1) \| Respond to of 3158

Financiers aren't looking for much merger activity (although DGEN holders might like to read the full article...) genomeweb.com SAN FRANCISCO, June 21 - Biotech companies will likely wait out a sour market climate by hunkering down and hibernating rather than consolidating either as a target or as an acquirer, according to a panel of biotech finance experts. "Every time we go through a trough people predict consolidation," said Brian Atwood, managing director of Menlo Park, Calif.-based Versant Ventures and a member of the panel that spoke at an MIT/Stanford Venture Laboratory discussion at Stanford Business School this week. "It doesn't occur. Consolidation will happen at the margins, but it will not take 5,000 companies down to 1,000. "There's so much cash in the system. [And] that's all you need," Atwood continued. "If you can stay financed in this industry, you will be successful."...