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Raising $15.6 billion through 276 transactions, the biopharma industry has experienced a respectable first quarter (Q1) in terms of financings, with a 14% jump over last year and higher amounts than the first quarters of many pre-pandemic years. The financings compare with $13.7 billion raised through 253 transactions in 2022’s Q1.
Raising $15.6 billion through 276 transactions, the biopharma industry has experienced a respectable first quarter (Q1) in terms of financings, with a 14% jump over last year and higher amounts than the first quarters of many pre-pandemic years. The financings compare with $13.7 billion raised through 253 transactions in 2022’s Q1. Private money remains the strongest source of capital in 2023, with venture capital bringing nearly 45% to the table and private investors in public companies bringing another 20%.
Heartflow Inc. is feeling the love of investors again as it closed a $215 series F financing round led by Bain Capital Life Sciences. The round marks a return to the equity markets after several years away; the company closed its series E in 2017 and a $65 million venture round in 2019. In early 2022, Heartflow scrapped its plans to go public through a special purchase acquisition company (SPAC) merger with Longview Acquisition, citing what both companies called “current unfavorable market conditions.” Longview had offered $690 million in July 2021, in a deal that implied an enterprise value of $2.4 billion at the time.
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