BioCentury
ARTICLE | Financial News

Cowen CEO says biotechs have raised $2.5B in IPOs under JOBS

September 19, 2013 1:29 AM UTC

Thirty-one biotechs have raised $2.5 billion in IPOs under the Jumpstart Our Business Startups (JOBS) Act since the law's passage last April, said Cowen and Co. CEO Jeffrey Solomon in a presentation to the SEC Tuesday. Companies across all sectors have raised $16.1 billion, according to Solomon, which means biotechs account for about 16% of all money raised through JOBS IPOs through Sept. 6. The presentation came at a meeting of the SEC's Advisory Committee on Small and Emerging Companies to discuss the effect of the JOBS Act. In a separate presentation, law firm Latham & Watkins said that the pharmaceutical industry was one of the top six industries for number of JOBS IPOs. ...