Finance Watch: 2021 Now Has More IPOs Than 2020, But With $3.2bn Less
US Total Reaches 87 Compared To Last Year’s 86
Public Company Edition: It took 256 days for 2021 to surpass the 2020 record of 86 biopharma initial public offerings in the US in one year. Also, Procaps raised $115m ahead of its SPAC merger and aTyr and bluebird raised $75m each.
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Public Company Edition: Alto Neuroscience and Fractyl Health grossed $128.6m and $110m, respectively, while FibroBiologics went public in a direct listing. Also, Vaxcyte grossed $862.5m in a follow-on offering, Immunocore grossed $350m in a note sale and Vera raised $287.5m.
With 88 initial public offerings in the US through the end of the third quarter of 2021, the biopharma industry is two IPOs ahead of the full-year 2020 total, but with an average return of -4% momentum may slow.
Speakers on a panel about health care deal-making discussed the influx of capital into biotech during the past two years, how that has impacted deal-making and whether those changes will last.