Though it has knowhow and wealth, the U.K. has never had much success creating biotechnology startups to rival such U.S. triumphs as Genentech Inc. and Amgen Inc. One explanation for this difference can be summed up in two words: Ronald Reagan.
Malaysian airline entrepreneur Tony Fernandes says he has two adopted homes. There’s London, where he owns the Queens Park Rangers soccer club and the Caterham Formula One auto-racing team based in nearby Oxfordshire. And there’s Jakarta, a thriving, congested Southeast Asian megacity in the world’s fourth-most-populous nation.
Green Biologics Ltd., the U.K. biotechnology company, plans to raise $6 million by mid-April and will use some of the funds to develop a demonstration plant in Brazil that will convert crops into butanol.
In the annals of the United Kingdom, no one can remember the last time the Prime Minister, his Chancellor of the Exchequer, the Home Secretary and Mayor of London were on vacation abroad when the nation was convulsed in riots.
MacDermid Group Inc., owned by Court Square Capital Partners LP, is considering the sale of a U.K. unit supplying coatings used on Fiat SpA and Alfa Romeo dashboard buttons, said people familiar with the transaction.