Data from PharmaDeals#174; Agreements for the period May 1996 to December 2005 were used to locate European biopharmaceutical companies and analyse any geographic patterns in deal making and therapeutic area. Some 149 regional clusters were identified that are active in deal making. This article focuses, for the most part, on the 23 main clusters and gives an overview of their characteristics, which sheds some light on differences and similarities both between and within regional clusters in terms of their therapeutic focus. By linking the differences in specialisation within clusters to some other cluster characteristics, some interesting types of clusters were found.