IPO Update: What A Difference A (Pandemic) Year Makes
COVID-19 Paralyzed Market In Q1 2020 But Fortunes Reversed In 2021
Just nine drug developers went public in the US during the first quarter of last year, but with the industry boosted by pandemic response, 32 biopharma companies launched IPOs in Q1 of this year.
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Private Company Edition: The venture capital firm said it will back biopharma, diagnostics and other opportunities in health care. In addition to the Design and TScan mega-rounds, Verve raised $94m, Vera garnered $80m and Ixaka (formerly Rexgenero) closed a £40m ($54.7m) financing.
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.
Private Company Edition: The pre-J.P. Morgan Healthcare Conference financing news deluge during the first week of 2021 included several significant venture capital deals, including a $226m series B round for Affinivax, Ikena’s $120m series B round and an $88m series A round for Aro.