Forbes January 27, 2020
Biotech is in the midst of an incredible era of innovation: new modalities and novel medicines delivering real value to patients, leading to a decade-long bull cycle. It’s been exhilarating to watch and participate in this market, and venture capital activity in biopharma remains near all-time highs.
As evidence of this ebullient era, venture capital funding into US-based biotech firms has been above a record-setting $3.5B for each of the last 8 quarters, according to the latest Pitchbook data. In short, overall fund flows into emerging biotech stories are very good. While the end of 2019 was off the mid-2018 quarterly peak in funding levels, these numbers are still huge by historic standards. It wasn’t that long ago that an...