French biotech fares better in 2006

The position of the biotechnology companies listed on the Paris, France, Bourse has improved significantly through 2006. The sector was in a deep trough for six years with no listings between 1997 and 2005.

While the market's CAC-40 index expanded just over 15% this past year, NicOx share price improved by over 500% to a capital value of more than 850.0 million euros ($1.11 billion). The company, based at Sophia-Antipolis, specializes in nitric oxide technology which makes drug administration more effective. NicOx has benefited since early 2006 from two accords - with Pfizer and Merck & Co. Last fall, it announced Phase III trials of a new drug - naproxcinod - for the treatment of osteoarthritis of the knee (Marketletter September 18, 2006). A number of new products and industrial partnerships are expected to be announced during the course of first-half 2007 and this is expected to lead to a further upward revaluation of the company.

Transgene's share price moved up over 70% through 2006 with capitalization put at more than 180.0 million euros, with growth coming after the announcement of a promising Phase II trial on a vaccine to treat a form of uterine cancer.