Founded in 1998, Wilex AG was one of the first products of the government-funded biotech splurge which kick-started the German biotech industry. But Wilex's product focus and strong cost-control distinguished it from the outset from most of its peers. Reflecting their country's research predilections, most German biotechs were built to offer discovery services based around their technology platforms.
Few investors or entrepreneurs had been through a full round of biotech investment cycles and they thus saw little reason...