Neil Woodford. Woodford Investment Management via YouTube

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.”

Endpoints News

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.