Private drug developers raised less last year than in 2018, but cash remains plentiful and mega rounds abound.
A stock market rebound created a strong finish for biopharma flotations in 2019, with four $100m-plus floats, led by Phathom Pharmaceuticals.
2019’s medtech VC total is swollen by the sector’s first $1bn round, but counterintuitively the amount going to smaller groups is increasing.
New products and strategic execution buoyed mid and small-cap medtechs, while safety worries took down one former high-flier.
Drug makers from across the globe feature in 2019’s list of best performing small biotech stocks, from Galapagos to Daiichi Sankyo to Arrowhead.
If the first three quarters of 2019 were dominated by pricing fears, the last saw a remarkable comeback for biopharma.
The good times continue to roll for big cap device makers, with two companies doubling their market value, and not a single share price fall.
Data and M&A lifts buoyant biopharma companies from Fate Therapeutics to Rocket, though on share price gain Forty Seven wins Ash 2019.
The period between a device company’s foundation and its acquisition has lengthened over the past few years, and currently stands at more than a decade.