Step-Ups: Three Types of Deals Emerge for Public Biotechs
This article was originally published in Start Up
Executive Summary
It's clearly a buyer's market in the public biotech sector. On the shopping list: products, chemistry, and cash.
You may also be interested in...
Which Private Investors are Cashing Out?
Every venture capitalist is anxious to use the latest IPO window to get his companies liquid. But some firms are more successful than others. At the top of the list there were few surprises--JP Morgan Partners and Alta Partners, with six biotech IPOs each, and MPM Capital with five. But the next group down contained some newer names.
What Entrepreneurs Want, Get, and Don't Get from VCs
What makes a health care VC stand out in the minds of entrepreneurs? According to a first-of-its-kind survey by Windhover, PricewaterhouseCoopers, Wilson Sonsini, and Applied Information Networks, the answer is value-added services. Entrepreneurs prize VCs who assist them, pre-financing, with constructive feedback and sharing of due diligence results. VCs do pretty well here. But they do less well on the more important post-financing criteria: helping their portfolio companies secure additional financing and recruit customers, partners, and employees.
Cardiokine Inc.
Cardiokine Inc. is one of a new breed of biotechs jumpstarting its pipeline. Its lead program, and the basis for its first round of VC funding, came not from one of its own compounds, but from a compound abandoned by Big Pharma.