Biotech raised $6bn in 2014 venture capital; most since 2007
This article was originally published in Scrip
Biotechnology companies ended 2014 with $6bn in new venture capital in their pockets, which was the biggest annual total since 2007, but that's after private startups and early-stage businesses raised $2bn in the fourth quarter alone – the biggest single-quarter total in at least 19 years.
You may also be interested in...
Silicon Valley Bank data show a pullback in crossover financings but an increase in seed and series A venture capital rounds. In recent private company financings, CRO Novotech raised $760m. In public company financings, Eleusis will merge with a SPAC and the Bausch + Lomb IPO is on file with the SEC.
ImmPACT Bio is advancing three CAR-T technology platforms that aim to address problems such as antigen escape, off-target toxicities and the immunosuppressive tumor microenvironment.
Public Company Edition: While panelists at Biotech Showcase argued merging with a special purpose acquisition corporation is not as attractive as it used to be, firms continue to pursue this go-public alternative. Also, Hillstream launched a small IPO and Cytokinetics accessed cash from Royalty Pharma.