For the second year in a row, biotech financing reached new heights. At $53 billion, fundraising grew by 13%, mostly as a result of partnership deals, which expanded by almost one-third to >$22 billion. Venture capital also jumped to $7 billion, with more firms receiving funding. Initial public offering funds also rose >50% to $3 billion, mostly during the first half of last year. In contrast, follow-ons declined substantially by 22%, and were particularly hard hit after June. Public markets look grim for the coming months.
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Lawrence, S. 2007—a banner year for biotech. Nat Biotechnol 26, 150 (2008). https://doi.org/10.1038/nbt0208-150
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DOI: https://doi.org/10.1038/nbt0208-150
