After a brief pause in the first quarter flotations have come flooding back, with drug developers raising almost $5bn so far this year.
The biotech financing scene in Europe continues to be dwarfed by the US, but on some measures the region is on an even footing.
In terms of venture financing, activity in 2017 outpaced that at the height of the biotech boom in 2015, with 68 biotechs attracted rounds of $50m or more.