Ebb & Flow

Germany's Jerinihas been tipped as a potential European IPO for more than a year, but the company has always maintained that it would go when the climate was right. The company has decided that now is the time, and last week announced plans to raise E40-E60 million ($48.5-$72.8 million) on the Frankfurt Stock Exchange.

The first half of the year wasn't conducive to an IPO, noted CEO Jens Schneider-Mergener. Biotech was still reeling from Tysabri's safety surprise and the COX-2 hangover. Moreover, in Europe, Jerini watched infectious disease company Arpida (SWX:ARPN) sink 26% in its first week of trading after going public in early May (see BioCentury, May 9). ...