Finance Watch: As Exit Values Rise, More Money Flows Into VC Investments
Private Company Edition: The average exit from biopharma investments rose from $356.8m in 2019 to $520.6m in 2020, explaining the staggering $12bn invested in the industry during the first half of this year versus $17bn for all of last year. In recent VC deals, VelosBio’s $137m series B was the largest.
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Private Company Edition: Biomedtracker found that 53% of financings during the first quarter were venture capital deals versus 32% in Q1 of last year. Also, Qiming closed a $260m fund, Transition Bio raised a $50m series A round, ProfoundBio completed a $70m series A+ and MycoMedica raised $60m.
IPO Edition: Sana leads the group with a $587.5m initial public offering, while Immunocore and Bolt follow with $200m-plus IPOs. The 10 newly public companies generated a 43.3% average return on 8 Feb.
Public Company Edition: 2020 started with two $200m-plus initial public offerings plus five health care-focused special purpose acquisition corporations IPOs. Also, a Pfizer initiative backs three public companies, Fate’s $432m offering led recent FOPOs and Biocon Biologics receives more investment.