Finance Watch: Seed/Series A Financings Benefit As Big Crossover Rounds Slow
SVB Report Notes Investor Shift Due To IPO Performance
Silicon Valley Bank data show a pullback in crossover financings but an increase in seed and series A venture capital rounds. In recent private company financings, CRO Novotech raised $760m. In public company financings, Eleusis will merge with a SPAC and the Bausch + Lomb IPO is on file with the SEC.
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There have been no biopharma initial public offerings in the US since 12 January while the industry’s valuations have plummeted by double digits since the start of 2022. Nevertheless, venture capital investment continues at a fast pace and there have been some follow-on public offerings.
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