Biotech Went to Work as the World Stayed Home
The capital market raises for biotech have been just incredible over the past year: a record 60.5% YoY increase. 73 biotech IPOs saw a 34.5% YoY increase in IPO exit size. Step-up multiples from the last private round’s post-money valuation to IPO pre-money valuation spiked as well.
One of the key drivers shaping the industry: new financing structures are emerging as viable options. The traditional angel/VC route is no longer the only option for the substantial capital raises needed for R&D and clinical trials.
If you’re a biotech executive, why are you not running at this market as fast as possible?
PitchBook Q1 2021 Analyst Note – Biotech Went to Work as the World Stayed Home
The biotech & pharma industry was a beacon of hope during an unforgettably difficult year.