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Biopharma VC Exits 2005-2007: Cheap IPOs, Expensive Acquisitions

This article was originally published in Start Up

Executive Summary

Over the past three years, acquisitions have outperformed IPOs in terms of step-ups and total value. Here we take a look at the average valuations each year for the two exit categories. The figures suggest that although IPO is the logical exit, in most cases investors will advocate exploring M&A almost all of the time as well.

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