If there was a theme in the biotech venture capital world in 2011, it was contraction. As the year drew to a close, the industry was abuzz with reports of Prospect Venture Partners' fundraising troubles, Scale Venture Partners' and Highland Capital Partners' decisions to exit the healthcare field, personnel changes at Versant Ventures, and the merging of the life science teams at ATV and Morgenthaler Ventures.
Despite a recent wave of contraction in the health care venture capital industry, Canaan Partners raised $600 million in its ninth fund. Granted, the bulk will go to tech investments, but about $100 million is earmarked for drug developers, and a further $100 million will go to medical device, diagnostics and health care IT firms.
Despite concerns about the economic climate in Europe and whether or not the U.S. is headed into another recession, biotech companies around the world managed to raise $23.4 billion in 2011, up from $19.3 billion in 2010 and almost back on par with the $24.8 billion raised in the glory days of 2007.
SAN FRANCISCO – If cautious optimism was biotech's theme in 2011, it appears that slightly-less-cautious-though-far-from-exuberant optimism may be the name of the game in 2012, according to those attending the 30th annual J.P. Morgan Healthcare Conference.
As BioWorld Insight readers know, our "Word on the Street" column provides a sample of the most entertaining and thought-provoking quotes our staff stumbles upon each week. Some are gathered during interviews, some are gleaned from analyst reports and some are overheard at conferences.
As BioWorld Insight readers know, our "Word on the Street" column provides a sample of the most entertaining and thought-provoking quotes our staff stumbles upon each week. Some are gathered during interviews, some gleaned from analyst reports, and some overheard at conferences. As we kick off 2012, here's a look back at some of the quotes that defined 2011:
As BioWorld Insight readers know, our “Word on the Street” column provides a sample of the most entertaining and thought-provoking quotes our staff stumbles upon each week. Some are gathered during interviews, some gleaned from analyst reports, and some overheard at conferences. As we kick off 2012, here’s a look back at some of the quotes that defined 2011: On Business “Biotech is all about picking the exception. Granting access to capital to everyone doesn’t strike me as the right idea.” ? Bob More, general partner with Frazier Healthcare Ventures, taking an optimistic view on capital constraints. Private biotechs...
Acceleron Pharma Inc. raised $30 million in its first major venture round since 2007, tapping a syndicate of existing investors to supplement recent partnering income.
