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2019 Silicon Valley Bank Annual Report Jan 1, 2019

Silicon Valley Bankの年次レポート(2019年版)において、バイオファーマ業界におけるVCの資金調達動向、ベンチャーのエグジット動向、2019年の見通しが纏められています。

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