January 5, 2018
Silicon Valley Bank

2018 Outlook

• Annual healthcare venture fundraising will decline to $6B – 7B, as a number of larger firms closed new funds in 2017.
• Biopharma investors will likely slow their deal pace.
• Biopharma M&A deals will reach 20-plus big exits based on available acquirer cash and the need to replenish pipelines.
• A market driven by a steady pipeline of crossover investor-backed oncology companies should again achieve 28 to 32
IPOs. There were 31 IPOs in 2017.
• Due to a steady M&A market and quick exits in PMA/De Novo 510(k) companies, investments in medical device will
increase. Traditional venture investors will lead this upswing.
• Early stage device M&A will continue. Neuro and drug delivery companies may...