Ethypharm, the French biotechnology company, is pressing ahead with its initial public offering, despite Zentaris, a German biotechnology firm, pulling its flotation the day before it was due to trade.
Zentaris is owned by Degussa, the German speciality chemicals firm, which announced the flotation in May just weeks after saying it was looking for a trade buyer for the business. Dresdner Kleinwort Wasserstein led the IPO which aimed to raise up to �.95m ($131.7m). Trading was due to start on the Neuer Markt on Monday.
