Market exchange.(Biotech news)(Brief Article)

Europe's biotech industry is unlikely to be helped by plans by the pan-European exchange Euronext to launch Alternext, a tailor-made market for small and mid-cap companies, on 17 May 2005.

According to Euronext, Alternext will make it easier for such companies to access capital markets. To list on the exchange-regulated market, a company will need to provide two years' financial statements and must either make a public offer of 2.5m [euro] ($3.3m) or have made a private placement of at least 5m [euro] with five qualified investors in the preceding two years.

With a …