Biotech Companies are Swapping the European Exchange for Wall Street.
Because the European market is too fragmented, it is not cost-effective for large players to build a Biotech team in Europe.
That is why more and more Biotech Companies are seeking their salvation on Wall Street because that is where the big investors are with extensive knowledge of their risky business models.
In the 4th quarter of 2020, the total value of IPOs was €9.0 billion.
That North America dominates the market can be derived from the fact that of this €9 billion, an amount of €5.5 billion alone was spent on IPOs of Biotech Companies on Wall Street.
That is more than 50% of the total value of all IPOs.