The BioCentury 100 index ended the Q1 down 26%, the worst performance in nearly 14 years. Excluding partnership monies, the industry raised only $8.3 billion. Only ten initial public offerings closed, while follow-on money declined by 84% to $1.8 billion (from $11.4 billion a year ago). Debt financings dropped to $1.3 billion from $19.4 billion in 1Q15. One bright spot was $4 billion raised by private companies, up 25% from 1Q15.
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Yang, W. 1Q16—the biotech bear growls. Nat Biotechnol 34, 456 (2016). https://doi.org/10.1038/nbt.3574
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DOI: https://doi.org/10.1038/nbt.3574
