The biotech index reached an 18-month high in the second quarter, although it remains far from its 2015 heights. Funding overall was down, and biotechs raised a total of $22.3 billion. Public offerings staged a comeback in 2Q after several sluggish quarters. After only three biotechs floated in 1Q, this quarter witnessed 18 initial public offerings (IPOs) and $1.1 billion raised. Venture capital funding for startups continues its retreat.

Stock market performance

Global biotech initial public offerings

Global biotech venture capital investment

Global biotech industry financing

Notable 2Q17 deals