Finance Watch: Biopharma VC Deals Hit New Record Of $27.4bn In 2020
Prior Record Was $19.8bn In 2018; 2021 Off To A Strong Start
Private Company Edition: Last year set a high bar for venture capital, but this year is starting strong. Recent VC mega-deals include $500m for EQRx and $230m-plus for Tessera Therapeutics. Also, BioGeneration Ventures closed a €140m ($170.2m) fund and NewAmsterdam raised a $196m series A.
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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.
Biopharma was an attractive investment in 2020 and fundamentals are unchanged in 2021, including the pandemic’s work-at-home requirements, which allowed more companies to go public faster.
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.