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Top Financings: 2018 Was A Remarkable Year For Biopharma Fundraising

 
• By Mandy Jackson

Highlights from the past year's financings include BeiGene's $800m follow-on offering in the US and $903m Hong Kong IPO, Moderna's $560m Series G round and $604m IPO, and Allogene's $300m Series A and $373m IPO.

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The market for biopharmaceutical financings in 2018 was remarkable in many ways, including the record-breaking level of venture capital investment, the year's 68 drug developer initial public offerings in the US, and the emergence of Chinese companies as major cash magnets.

In examining the largest deals across financing categories – venture capital, IPOs and follow-on public offerings (FOPOs) – one company, in particular, stood out. Cancer drug developer BeiGene Ltd., which went public in the US in 2016, is notable for being a China-based firm that was able to gross $800m from a US FOPO in January and $903m from a Hong Kong IPO in August

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