A string of high-profile setbacks may have eroded support for local biotechnology companies, but executives and analysts say plenty of money from overseas and the weak Australian dollar may spur takeovers by foreign buyers.

Watermark Funds Management analyst Joshua Ross said 2014 was “a year littered with disasters" as companies like QrXPharma, Alchemia and Prana Biotechnology had their value and prospects smashed by poor clinical trial results and regulatory knockbacks.