Catalan Biotechs Boosted By International Backers
The number of foreign investors participating in Catalan biotech companies has gone from 0 to 50, and over the past five years alone, the figure has increased tenfold, according to the latest Biocat report.
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Qiagen has agreed to acquire STAT-Dx, a start-up that developed a multiplex diagnostic for common syndromes, for about $147m in upfront cash, and up to $44m in regulatory and commercial milestones.
Other companies in the sector could follow Spanish flagship biotech Oryzon and move their headquarters to Madrid, leaving a big hole in the coffers of the Catalan government.
As tensions continue to rise in Catalonia in the aftermath of the illegal independence referendum, one of Spain's most high-profile biotechs has decided to move its headquarters to Madrid, leaving observers to wonder if other companies, including multinationals, will follow.