Venture capital has been on a good run over the past few years across a range of sectors; even with recent slowdown relative to 2014-2015, venture-backed investments remain above historic averages. In fact, the first three quarters of 2016 alone are already higher than the annual rate of venture investing in all but two years since 2002.
Like the overall venture capital asset class, biotech has also been strong over the past few years: 2014-2016 will be the three largest years for private biotech funding since the start of data collection in 1995. On the public market front, even with the 30%+ correction since July 2015, we’ve continued to see significant IPO activity and will likely have over 30 biotech IPOs this year–a top-quartile year for new issuances.
