Date: November 19th 2007

19th November. Oxford, UK: Over a four week period in October, the Oxford-based biotech network (OBN) brokered eight meetings between its client biotech companies and venture capital (VC) firms, suggesting the burgeoning biocluster remains buoyant despite market turbulence.

The undisclosed biotech companies were seeking a total investment exceeding £20m from a number of VCs including: GSK’s venture arm SR One, MVM Life Sciences Partners, and Close Ventures.

OBN activities have focused on biotech finance this year. Its flagship BioTrinity event featured a panel discussion about attracting globally-focused venture capital. During its upcoming “BioTuesday” networking meeting on November 27th, Dr. Jonathan Senior, Director of Corporate Finance at Nomura Code, will examine the conditions for IPOs on the LSE and other exchanges, including the impact of recent market volatility.

“As the daily newspapers peddle fear of volatility in the general public, we’re asking how should a CEO respond to market conditions – is this a challenge or opportunity?”, Jon Rees, OBN’s Network Director, explained.

“OBN’s internal research shows that at least £291m in investment was raised since 2005 by Oxfordshire biotechs alone (£94m on the public markets and £197m VC-backed). This months’s $40m venture capital investment in Oxford Immunotec (Milton Park), and the £16m raised by Syntaxin (Abingdon) shows that at least one avenue is still wide open”.

OBN will once more address the challenge of biotech financing at BioTrinity 2008. Held in Oxford on April 15-16, 2008, this event again promises to be the largest biopartnering meeting in the Oxford and South East region. BioTrinity registration opened on Monday 19th November: http://tinyurl.com/ypfvwt

To find out more about OBN’s next BioTuesday: http://tinyurl.com/yotv8h

ENDS

For further information:
De Facto Communications

Gemma Ryan
Tel: +44 (0) 20 7861 3896
g.ryan@defacto.com

Maria Patey
Tel: +44 (0) 20 7861 3838
m.patey@defacto.com


Notes to Editors

Oxfordshire Bioscience Network (“OBN”) is the leading biotechnology network in the Oxford and South East region. It exists to catalyse the growth and development of the Oxford and South East BioCluster by: maintaining an effective business network, and showcasing companies, technologies and licensing opportunities to investors, licensing and alliance managers, and the wider biotech and healthcare community. In addition to organising its regular BioTuesday networking meetings and BioTrinity – its annual one-to-one partnering conference, OBN brokers venture capital meetings and releases publications such as the BioCluster Report and BioCluster Map.

Website: http://www.oxfordshirebioscience.com/