Forbes July 15, 2020
We’re half way through one of the craziest years in recent memory, with a raging viral pandemic, civil unrest and protests, staggering unemployment and economic woes, and invasive murder hornets. And yet, like the indefatigable Energizer bunny, the biotech market just keeps marching onwards and upwards.
Recent 2Q 2020 data from Pitchbook shows that venture capital funding into US-based biopharma companies was the largest quarter in the history of the industry – topping over $6.4B. In the midst of the crazy macro backdrop, private biotechs raised more in the last three months than the annual totals in every year prior to 2014.
This strength has surprised many market participants, including me: in April, I had forecast that 2Q 2020...
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