Money raised through biopharma financings so far in 2020 is double the amount raised within the same timeframe of 2019, partly due to two large financings completed in May by Sanofi SA, which is working on candidates to treat or prevent COVID-19, the disease caused by the SARS-CoV-2 virus.
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.
While the number of venture capital financings are continuing the upward trend begun in 2018, amounts raised are down from last year, aside from series B rounds that have brought in 28% more in funds of $5.49 billion.
In the third quarter, global biopharmaceutical companies collectively raised more than $12 billion from public and private transactions. Year to date (YTD), the sector has generated $41.5 billion, according to BioWorld data, putting it on track for a $55 billion haul for the year.