Third quarter biopharmaceutical start-up financings fell 23% from the second quarter, but large individual company financings continue to stand out, including Century Therapeutics with a $250m series A venture capital round and a $121m series B for Achilles Therapeutics Ltd. Four start-ups went public in the third quarter, including the Pfizer Inc. spin-out SpringWorks Therapeutics Inc. with the largest initial public offering totaling $173.3m.
Start-Up Quarterly Statistics: Financings Continue Quarterly Declines Despite Big Venture Deals And IPOs
A review of biopharma start-up dealmaking and financing activity from July through September 2019, based on data from Strategic Transactions. Fundraising activity fell 23% from the second to the third quarter, but start-up M&A surged, led by Vertex's acquisition of Semma.
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