The Neuer Markt—Germany's equivalent to Nasdaq—was launched in 1997, just in time to catch the first real global wave of enthusiasm for high-tech, high-growth stocks. With its newly-listed IT, media, telecoms and biotech stocks—the latter encouraged by the German government's huge investment in biotechnology, through its BioRegio program—investors loved it. (See "Germany's Growth Story", START-UP, February 2001 Also see "Germany's Growth Story" - Scrip, 1 February, 2001..) Company valuations soared through 1999 and 2000 as German investors, including many retail players making significant equity investments for the first time, clamored for a piece of the action.
German biotech companies including MorphoSys AG , Sygnis Pharma AG , Medigene AG , GPC Biotech...
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