Last year, investors scrambled to invest in newly floated biotechs. This, together with a brisk licensing market and policy tailwinds, helped boost the sector, even as an expected M&A boom was late to materialize.
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Morrison, C., Lähteenmäki, R. Public biotech in 2017—the numbers. Nat Biotechnol 36, 576–584 (2018). https://doi.org/10.1038/nbt.4175