The biotech industry may continue to gain momentum ahead on further merger and acquisition activity.

“We are not putting all our eggs in one basket,” Galencia Chairman Etienne Jornod said. “This is just one step and we intend to continue to acquire.”

Further M&A activity is good news for biotech ETFs that track smaller and more specialized drug producers. For instance, BBP includes companies that has landed FDA approval, including a large 39.2% tilt toward micro-caps, 23.6% in small-caps and 19.2% in mid-caps.

Related: Hit The Lab With These 17 Biotech ETFs

Other biotech ETFs that may capitalize on more M&A activity include the BioShares Biotechnology Clinical Trials Fund (NasdaqGM: BBC), which tracks potential up-and-coming biotechnology companies that are in the clinical trials stage. The ALPS Medical Breakthroughs ETF (NYSEArca: SBIO), which focuses on small- and mid-cap companies that have one or more drugs in either Phase II or Phase III U.S. FDA clinical trials. The SPDR S&P Biotech ETF (NYSEArca: XBI), which follows a more equal weight methodology that causes the fund to lean toward smaller companies.

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BioShares Biotechnology Products Fund