When 2013 started no one would have predicted that we would see 37 companies focused on developing therapeutics successfully complete their initial public offerings (IPO) on the U.S. markets in the year and collectively raise approximately $3 billion in the process. The total certainly swamped the 11 U.S. IPOs completed in 2012 and put an exclamation point on the favorable capital markets, which helped to ensure that the window stayed firmly open.