Pharmaceutical Executive Podcast
Gregg Beloff discusses 2020 as a banner year for biotech IPOs, the drive behind that boom and whether it will sustain. Some takeaways:
- 2020 saw a record pace of capital flow into life sciences. More opportunity capital means more innovation and more ideas to be funded.
- Perception-wise, Covid-19 put a spotlight on the importance of research. The technologies behind “accelerated” vaccines had actually been researched and invested in for years.
- The advent of the crossover investor had a big impact on the average IPO raise. Public market funds investing privately increases their allocation size. Over-subscription drives the demand, leading to higher valuations and larger raises.
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