Biotech financing

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Biotech financing: United States United States US biotechnology financings by year Debt Follow-on and other IPOs Venture 70 60 50 US$b 40 30 20 10 0 Source: EY, Capital IQ and VentureSource. In the US, 2015 featured strong financing performance across every category. With a total of US$61.1 billion raised (up 32% from 2014’s then-record US$46.4 billion), the year featured the highest-ever venture capital, debt and follow-on financing totals. Fourth quarter financing slowed significantly, with only US$4.6 billion of the year’s total coming during the last three months of 2015. 12 Beyond borders 2016 — Biotech financing

Innovation capital in the US by year Innovation capital Capital raised by commercial leaders US$b Source: EY, Capital IQ and VentureSource. Innovation capital is the amount of capital raised by companies with revenues of less than US$500 million. US commercial leaders conducted only seven financing rounds in 2015, including four large debt deals. However, those financings accounted for US$28.8 billion in new capital, a new record. US innovation capital (US$32.3 billion) also reached a new record in 2015, narrowly topping 2014’s record high of US$30.1 billion. Beyond borders 2016 — Biotech financing 13

Innovation capital in the US by year<br />

Innovation capital<br />

Capital raised by commercial leaders<br />

US$b<br />

Source: EY, Capital IQ and VentureSource.<br />

Innovation capital is the amount of capital raised by companies with revenues of less than US$500 million.<br />

US commercial leaders conducted only seven <strong>financing</strong> rounds<br />

in 2015, including four large debt deals. However, those<br />

<strong>financing</strong>s accounted for US$28.8 billion in new capital, a new<br />

record. US innovation capital (US$32.3 billion) also reached a<br />

new record in 2015, narrowly topping 2014’s record high of<br />

US$30.1 billion.<br />

Beyond borders 2016 — <strong>Biotech</strong> <strong>financing</strong><br />

13

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