Finance Watch: 2018 Biopharma VC Investment Could Beat 2017 One Quarter Ahead Of Schedule
With biopharma venture capital investment of $9.67bn during the first half, 2018's total is on track to beat 2017 in the third quarter. IPOs, one of the factors fueling VC investment, continue to boom with five more drug developers slated to go public this week.
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Private Company Edition: Immunocore’s $130m round kicked off a series of $100m-plus venture capital deals, including financings for Xilio, Akouos and Pliant. Also, VC investment in cell and gene therapies surged in 2019 and MPM launched two funds with $126 for early cancer research.
Highlights from the past year's financings include BeiGene's $800m follow-on offering in the US and $903m Hong Kong IPO, Moderna's $560m Series G round and $604m IPO, and Allogene's $300m Series A and $373m IPO.
Not every drug developer can go public, but biopharma IPOs are launching in multiple markets, including Moderna's prospective $500m US offering and Innovent's $421m Hong Kong IPO. Also, Sarepta prices a $500m FOPO and Omeros sells $210m in notes.