Monday, January 14, 2013
Public biotechs valued below $1 billion raised $10.6
billion in 2012, up 28% from $8.3 billion in 2011. However, investors deployed
that capital to almost the same number of companies - 309 in 2011 vs. 317 in
2012. In 2011 the average funding per company in this group was $26.8 million
vs. $33.4 million in 2012.
The total raised by public biotechs in 2012 fell 33%
to $29.6 billion from $44.2 billion, as the 2011 figure was significantly
inflated by several big debt deals by large cap companies, including Amgen
Inc. (NASDAQ:AMGN), Gilead Sciences Inc. (NASDAQ:GILD) and Teva
Pharmaceutical Industries Ltd. (NASDAQ:TEVA).
Debt financings include convertible note deals. Equity
financings include IPOs, follow-ons, PIPEs, rights offerings, preferred stock
placements and warrant exercises. Market cap tiers defined at the start of each
period analyzed. Source: BCIQ: BioCentury Online Intelligence