Medtechs going public in 2020 raised a decent amount of cash, but have had a turbulent time of it since.
Fortunately for medical device start-ups, it takes more than a pandemic to put venture capitalists off doing deals.
Second-quarter deal values plummeted as Covid-19 spread and the prices of target companies spiralled.
A handful of huge financings helped start-ups raise a record $5.4bn in the second quarter as investors brace for tougher times.
Global drug stocks enthusiastically joined the recovery on the financial markets in the second quarter, more than offsetting earlier declines.
2019 was an average year for medtech M&A. 2020, not so much.
Mid- and small-cap medtechs find themselves at the mercy of government responses to the Covid-19 pandemic.
After a brief pause in the first quarter flotations have come flooding back, with drug developers raising almost $5bn so far this year.
The world’s largest drug companies splashed out a record $78bn on R&D last year, with Roche and Lilly the biggest spenders.