Although biotech stocks nose-dived in the last quarter, the NASDAQ Biotech Index still returned a double-digit increase year on year. Compared with 2016, mergers and acquisition were down (just 54 in total), follow-on financings were up and initial public offerings (IPOs) raised similar totals in funding. But it was venture capital investment that continued to gorge the sector, with a few companies raising eye-popping amounts—all in all, the sector raised just short of $16 billion in risk capital.
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DeFrancesco, L. 2017—venture funding goes into overdrive. Nat Biotechnol 36, 129 (2018). https://doi.org/10.1038/nbt.4081
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DOI: https://doi.org/10.1038/nbt.4081
