Biotech companies in Germany raised a record level of capital in 2018, with over €1 billion ($1.1 billion) of venture capital and other equity investments driving the sector. After a period of volatility due to political developments at the end of 2017 and start of 2018, German companies have a greatly improved outlook on the state of biotech in the country.
Private biotech companies drew €369 million ($420.1 million) in venture capital investments, a 54.4% spike, while public biotech companies raised €693 million ($789.0 million) through the stock exchange, resulting in a formidable increase of 96.9%. QIAGEN contributed the most to this figure, with the company issuing €445 million ($506.6 million) worth of convertible bonds. Equity inflows of German biotech companies almost doubled to reach €1.27 billion ($1.45 billion), an 88.4% jump.
According to a BIO Deutschland survey, 60% of companies have a favorable view of the current business climate, with 50% projecting even more promising conditions in 2019. Approximately 67% of survey respondents expect to expand their workforces this year, and 56% forecast increased R&D spending.
Source: BIO Deutschland