Two European biotechnology groups are seeking secondary listings on Nasdaq despite difficulties facing many in the sector to raise new money though the US public markets.

GPC, a German biotechnology company, said it will dual list on Nasdaq through a €100m ($121m) one-for-three rights issue to fund final stage drug trials. Goldman Sachs, Lehman Brothers, Pacific Growth Equities and WestLB are leading the GPC offer. New shares are expected to start trading on June 30.