Biovector Therapeutics Plans UK Flotation

- Biovector Therapeutics of Toulouse, France, is preparing for a UKflotation in 1998, according to the Financial Times. The company hopes that it will be valued at L100 million ($163 million) at the time of flotation. Biovector is thought to be the only French company with a listing only on the London Stock Exchange. With the major countries for start-up biotechnology firms being the UK and the USA, a French flotation would restrict the shareholder base, while a Nasdaq listing would be too time-consuming and the European Easdaq market has yet to prove itself, said Emile Loria, chief executive of the company, talking to the FT. Meantime, Biovector, which specializes in drug and vaccine delivery technologies, has just signed an agreement with BioChem Pharma's subsidiary IAF BioVac, for the development of nasal vaccines for influenza, meningococcal meningitis and pneumococcal infections. An Investigational New Drug application for the flu vaccine is expected to be filed with the US authorities next year.