2019 Silicon Valley Bank Annual Report Jan 1, 2019

2018 Highlights: Investments

• US healthcare venture fundraising reached a record $9.6B, continuing a four-year upward trend
  
• Venture investments increased 50 percent over 2017, setting a record.
  
• Biopharma dollar volume doubled that of 2017
  
• Biopharma Series A dollars increased 35 percent, led by oncology and platform companies, which accounted for more than half of all deals and dollars
  
• With nearly twice the number of 2017 deals, Top 15 Crossover Investors restocked biopharma IPO pipelines by funding 60 private companies

2018 Highlights: Exits

• 2018 was a banner year for biopharma IPO and M&A exits, hitting a record total deal value of $49B
• Biopharma IPOs reached a five-year high in pre-money valuations and dollars raised, and private M&A posted a 5x median
• Upfront multiple and a median time to exit of just over three years
• A record 18 $1B+ venture-backed biopharma IPOs and M&A deals were completed in 2018

2019 Outlook

• We anticipate total US investment into life science to continue at a healthy pace, reaching about $8B, with established funds likely to be joined by new spinout funds anchored by established investors. In addition, tech firms may raise life science–only sister funds
• Top 15 Crossover investment in venture-backed companies could soften by 25 percent or more, leading to biopharma investments decreasing to more closely match 2017 numbers
• The biotech IPO pipeline is strong, but market uncertainty could drag IPOs down to 30 to 35 deals and moderately reduce pre-money valuations and dollars raised. As a result, we expect an increase in private biopharma M&As

You can find more information at the following link:
Trends in Healthcare Investments and Exits 2019, SVB