Initial public offerings are the lifeblood of the biotech industry. Stock listings give young companies access to the vast amount of cash necessary to advance their drugs through clinical development, and their venture backers a crucial opportunity to earn a return and form new biotechs.
At the start of the last decade, the IPO markets weren’t receptive to biotech companies. But by 2013, public investment was pouring into the industry, drawn by scientific advances and boosted by the newfound interest of a broader range of investors.
Ever since, biotechs and their backers have ridden a multi-year boom. Many young drugmakers, including those still years from human trials, have gone public at valuations never thought possible in the 2000s. Records have been made, and broken, several times over. Last year, a new high water mark was set during the deadliest pandemic in a century.
But a lucrative IPO doesn’t mean the company will thrive. Which biotechs create value over time, and which fail? What types of companies are generating the best returns? Who are their top investors? READ MORE
By Ben Fidler
Source: biopharmadive.com
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