The slow growth of the NASDAQ biotech index, like the rest of the market, was boosted by drug approvals and burgeoning mergers and acquisition activity, the most noteworthy of which was Gilead's takeover of CAR-T specialist Kite. Globally, industry raised a record-setting amount of capital, fueled by buoyant venture capital and partnerships. The trend for fewer but larger venture capital investments continued in 3Q, with a massive investment in European private biotech Roivant Sciences.
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DeFrancesco, L. 3Q17—Funding and partnership into overdrive. Nat Biotechnol 35, 1005 (2017). https://doi.org/10.1038/nbt.4012
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DOI: https://doi.org/10.1038/nbt.4012
