Word: probiodrug
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Dates: during 2004-2004
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...make room for a sprawling $365 million science-and-technology center taking shape on the city's western edge. Sixty companies and 19 educational institutions--active in such fields as biotech, nanotech and environmental science--have settled there so far, and 2,500 new jobs have been created. Probiodrug, a biotech start-up that has won acclaim for its research on diabetes and acquired a clutch of lucrative licensing agreements with big pharmaceutical firms, is one of the early tenants. "Halle has a unique situation," says Probiodrug CEO Hans-Ulrich Demuth. "There's a strong university in the field...
...science park does not amount to a new Industrial Revolution. Since unification, Germany has spent on the former East a staggering $1.46 trillion, much of it squandered, but Halle's high-tech development shows that not all of it was wasted. The presence of world-class companies like Probiodrug proves that even the most downtrodden town can shake off years of lethargy and begin a comeback. If Halle can do it, can the rest of Germany be far behind...
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