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Med-tech companies brought in more money than each of the last two years in every type of financing, aside from private placements, with about 11% of the funds flowing into digital health companies. In total, the industry raised $40.67 billion, an increase of 98% over 2018, which logged $20.6 billion and was more in line with the $19.4 billion raised in 2017.
Delegates convening in San Francisco Monday for the 38th Annual J.P. Morgan Healthcare Conference and other related biotechnology conferences running at the same time will certainly be in a better frame of mind than just 12 months ago. Back then, the sector had just come off a terrible fourth quarter, with investors shying away from biopharma company equities big time.
As we entered a new decade, BioWorld writers took the opportunity to review the highs and lows of the past 12 months and they concluded that 2019 was a great year for the sector – save for a few bumps in the road.
Despite a rough ride on the capital markets for much of the year, particularly in the second and third quarters, this did not prevent the biopharmaceutical sector from attracting a significant amount of capital. According to BioWorld, when the curtain closed on 2019, approximately $57.6 billion had been generated by global public and private companies.
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