Biotech financing
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<strong>Biotech</strong> <strong>financing</strong>: United States<br />
US venture capital skyrocketed above US$9 billion in 2015<br />
Total amount raised<br />
Average deal size<br />
10<br />
25<br />
Total amount raised (US$b)<br />
8<br />
6<br />
4<br />
2<br />
20<br />
15<br />
10<br />
5<br />
Average deal size (US$m)<br />
0<br />
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015<br />
0<br />
Source: EY, Capital IQ and VentureSource.<br />
In 2015, US biotechs set multiple records in the venture<br />
capital <strong>financing</strong> category: total dollars raised (US$9.4 billion),<br />
largest number of venture rounds (441) and average deal size<br />
(US$21.2 million). These figures were no doubt bolstered by<br />
record participation from corporate venture funds, which were<br />
increasingly motivated by a strategic <strong>financing</strong> remit, and<br />
crossover investors, which saw increasing exit opportunities via<br />
the public markets and acquisitive pharmaceutical companies.<br />
Importantly, venture capital was the one US <strong>financing</strong> category<br />
that didn’t experience a marked slowdown in the fourth quarter,<br />
suggesting that, at least for now, interest in funding private<br />
biotechs remains strong amid a reduced public-market appetite.<br />
14 Beyond borders 2016 — <strong>Biotech</strong> <strong>financing</strong>
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