Biopharma IPOs have raised $8bn so far in 2026, almost five times the $1.7bn raised in the whole of 2025, from 23 listings against 13. Parabilis and Kailera set sector records along the way, and most of this year’s class trades at or above its debut price.
For biotech companies deciding what comes next, that’s really important. The IPO window has reopened, M&A is on track for its strongest year since 2019, and some management teams are weighing a listing against a sale or preparing for both at once.
Join us on 18 November
I’m delighted that Evaluate is partnering with Alvarez & Marsal (A&M) on a fireside chat on biotech IPO and M&A readiness, taking place on 18 November at 5pm GMT / 12pm ET. For any company looking to reach its next stage of growth, these are important topics, and I’m really looking forward to taking part.
I’ll be opening the session, and providing some useful context for the rest of the conversations. Drawing from recent Evaluate reports, I’ll cover:
- A patent cliff with over $500bn of sales at risk from loss of exclusivity by 2032, and an even bigger one looming next decade as GLP-1 drugs lose protection
- An IPO market that is open but selective, with an average first-time offering of around $300m this year, the highest of any year since 2020
- M&A heading for its highest level since 2019, with no sign of a return to megadeals
- Venture funding of almost $25bn year to date, just $1bn short of 2025’s full-year total
What A&M will cover
The A&M team and panellists then take over to address two key questions. How should a biotech plan for the move to public markets, from timing and operational preparedness to investor positioning? And how can a company adapt quickly as a deal progresses, realise value and control risk?
Whichever route a company takes, the earlier it starts preparing, the more value it gets out of the process. The session closes with audience Q&A, so bring your own questions.
If you lead a biotech, advise one or invest in one, I hope to see you there. You can register here.
