The biotech industry raised $4.2 billion via 33 follow-on deals in 2Q13 - the third largest quarterly amount raised for this offering type since BioCentury started tracking the industry's financings in 1994. The $5.2 billion raised in 4Q00 was the largest, followed by the $4.3 billion raised in 1Q00. Excluding the $2.3 billion follow-on by Valeant Pharmaceuticals International Inc. (TSX:VRX; NYSE:VRX) to fund the acquisition of Bausch + Lomb Inc., the remaining 32 offerings in 2Q13 come in at $1.9 billion, still ahead of the $1.1 billion raised via 23 deals in 2Q12.

The 2Q13 follow-on class is up a median of 2%, with the percentage changes