Conclusion The last 12 months have been quite fascinating in many respects. Access to financing sources looks to be fairly good. This might be a consequence of chemicals’ endeavours to move more in the direction of industrial biotech with valuations currently being paid or willing to be paid (Bayer vs. Reckitt) making investors happy. So the financing circuit is intact despite the temporary blockage of the exit “IPO”. We value the sentiment for industrial biotech in general as very positive and expect this positive development to continue.