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Take the cash

Like the housing market in the macro economy, the venture market is the last bastion of activity within biotech's economy. IPOs posted a goose egg in the third quarter and follow-ons were nearly non-existent - 3 deals raised $200.4 million. But sixty-four companies raised $913.1 million in private equity money in the third quarter, modestly below the $1.1 billion quarterly average since the bubble

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