BioCentury
ARTICLE | Finance

Here comes the paper

January 31, 2000 8:00 AM UTC

The dike has given way, as 13 biotech financings closed last week, raising $652 million. The industry has raised $1.5 billion in the first four weeks of 2000. Although the torrent can't be sustained - it otherwise would track out to $19.5 billion for the year - the best-ever $7.6 billion in 1996 and last year's $7.4 billion could be in jeopardy.

Indeed, 11 proposed financings were added to the queue last week, including two more IPOs, promising to add close to $1 billion to the total...