2Q14—Biotech corrected

The BioCentury 100 index rebounded from its April 14 low, up 2% for the quarter. Though not as robust as 1Q14, $12.8 billion in fundraising (excluding partnership monies) remained stronger than any quarter in 2013. 23 companies went public for $1.3 billion—59 companies ($3.9 billion) have now been floated since January. Follow-ons/private investments in public equity ($3 billion, in total) and debt financings ($5.6 billion) also remained buoyant. Venture raised $2.7 billion, led by Intarcia Therapeutics' $200 million series DD round.

Stock market performance

Global biotech industry financing

Global biotech venture capital investment

Global biotech initial public offerings

Notable 2Q14 deals

Box 1: Stock market performance

The BioCentury 100 gained 2% in 2Q14, weighed down by >28% declines by Intercept Pharmaceuticals and Puma Biotechnology. The NASDAQ Biotech Index, which does not include either company, was up 9%.

Box 2: Global biotech industry financing

Excluding partnerships, biotechs raised $12.8 billion in 2Q14, down from $18.9 billion in 1Q14 but above the $10.3 billion raised in 2Q13.

Box 3: Global biotech venture capital investment

Private biotechs raised $2.7 billion in 2Q14, up 46% from $1.8 billion in 2Q13.

Box 4: Global biotech initial public offerings

59 companies have raised nearly $4 billion from IPOs in the first half.

Box 5: Notable 2Q14 deals