US Biopharma IPOs Surge, Data For 2018 So Far
US initial public offerings by biopharmaceutical firms surged in the first 10 months of 2018, even as stock values fell in October. Market dynamics are moving swiftly, and with Moderna Therapeutics looking to raise $600m in an upcoming IPO, the biggest in biotech’s history, the appetite for financing innovation continues to grow despite declining returns.
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Nearly two-thirds of the 67 drug developers that launched an IPO in 2018 were trading below their offering price at the end of the year, bringing the average return to -7.5%. Even so, biopharma companies continue to line up for a US stock market debut.
Private Company Edition: Investments by CIRM, the GHIT fund and the European Investment Bank back early-stage science and treatments for neglected diseases. Also, Versant Ventures raises $700m in two funds. In VC deals, Akero raised $70m, Impel NeuroPharma brought in $67.5m.
Private Company Edition: Jeito says its new first fund is Europe’s largest life science-focused fund. Illumina will use its venture capital to support tools, diagnostics, therapeutics and more. Also, IASO closed a $108m series C round and Amolyt raised $80m in series C financing.