Polar Capital's David Pinniger has said there will be a "second stage" of biotech companies coming onto the market, providing the sector with the potential for further robust returns as it approaches the halfway point of a decade-long cycle.
Pinniger, who runs the $427m Polar Capital Biotechnology fund, said people questioned whether biotech had further to run when the fund was launched on 31 October 2013 as the NASDAQ Biotechnology index...
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