Start-Up Quarterly Statistics: A Record-Breaking Q2 As Financings Surge
Biopharma start-ups had a record-breading quarter in terms of fundraising. A review of biopharma start-up deal-making and financing activity from April through June 2018, based on data from Strategic Transactions.
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Terns raised an $80m Series B round for NASH and cancer programs, while 89Bio launched with a $60m Series A to fund drugs for NASH and other liver and metabolic diseases. Also, Stoke leads recent VC deals with $90m Series B.
Public Company Edition: Nine more biopharma companies launched IPOs in the US in July, bringing the 2018 total to 45 first-time offerings – three more than in all of 2017. Bluebird's $632.5m offering leads recent follow-on public offerings.
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