Woodford fallout to blame for shrinking biotech valuations, co-investor says
The IP Group did not have a good first half of the year. And the UK investment company thinks Neil Woodford — its second-largest shareholder — is to blame.
Gaining the backing of Woodford, a prominent supporter of the country’s biotech industry, was once a badge of honor for upstarts. But in its half-yearly results, the IP Group said his holdings in 12 of its companies had in some cases “adversely impacted valuations and constrained funding availability.”
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