VC Outlook Positive On Biotech IPO, M&A Activity
This article was originally published in Start Up
Things are looking up for biotech VCs. The third quarter of 2014 was the sixth consecutive quarter in which the number of US initial public offerings by venture-backed biotech firms was in the double digits, and pharmaceutical companies show no sign that they're done sourcing R&D via mergers and acquisitions.
You may also be interested in...
Fourteen deals have been signed so far in 2014 with an up-front value of $1 billion or more. The standout year for pharma M&A is already more valuable than 2009, the year Pfizer bought Wyeth and Merck acquired Schering-Plough.
Public Company Edition: Four health care special purpose acquisition vehicles went public and two others announced mergers, but only one biopharma firm priced an IPO during the week of 19-23 October. Replimune’s $250m offering led recent FOPOs.
Nuvation started in 2018 and raised a $275m series A round in 2019. Now it is merging with the EcoR1 Capital-sponsored SPAC Panacea Acquisition Corp. and raising $500m in equity capital.