Postelection atmosphere is positive.(Biotechnology)

SAN FRANCISCO -- The reelection of President Bush, the passage of the stem cell research initiative in California and an upswing in stocks collectively boosted the biotech market in November, according to G. Steven Burrill, chief executive officer of Burrill & Co., a San Francisco-based life sciences merchant bank.

"Once the uncertainty surrounding the elections passed, the [stock] market jumped back up with many investors believing four more years of the Bush administration will prove advantageous to the markets and to biotech," explains Burrill. "Election Day delivered another big win for the industry, the passage of Proposition 71, which is expected to fund $3 …