US biobanker retreats from Europe
This article was originally published in Scrip
Executive Summary
Europe's life sciences industry is losing one of its most influential supporters when it comes to raising new capital. US investment bank Piper Jaffray has announced plans to restructure its European operations by focusing resources on what it believes to be its two areas of strength -- the distribution of US and Asian securities to Europe's institutional investors, as well as merger-and-acquisition advisory services to European clients. The firm will no longer be involved in selling European-listed biotech stocks.