Do VCs Prefer Public Biotechs?
This article was originally published in Start Up
Private biotechs have run into another complication in seeking venture financing as of late: the fact that so many public, and more mature, biotechs have fallen into VCs' price range.
You may also be interested in...
Now, Alta Partners is shifting direction. Rather than raise a fourth early-stage biopharma fund, Alta opted to raise a single $500 million fund, Alta Partners VIII, which it will commit to biopharmaceutical and medical device companies of all stages.
While START-UP first noted an industry-wide tendency to overestimate the prices IPO investors were willing to pay in early 2005, IPOs have regularly fallen short of the anticipated price ever since, with few exceptions.