Twenty-one biotechs raised $1.3 billion in follow-ons in 3Q12, bringing the year-to-date total to $4.5 billion. The money raised in 3Q12 is more than twice the $467.4 million raised by 12 companies in 3Q11. 3Q12 follow-ons are up a median of 15%, led by a 3.5x increase in the market value of Neuralstem Inc. (NYSE-M:CUR). In September, the company announced that its human neural stem cells induced functional improvement in a rat spinal cord injury study. Neuralstem