With a leap from $11 billion to more than $17 billion last year, partnership deals now represent almost half of all funds flowing into biotech. Venture capital also has remained robust, and despite fewer deals, the growing size of each deal on average has kept investment climbing. Debt funding declined by more than one-third from the previous year, whereas the amount raised in initial public offerings (IPOs) fell by about one-quarter. Biotechs performed well on the stock market; after a slow start, both biotech indices rose around 6% for the year.

Source: Multex, BioCentury
Source: BioCentury
In millions. Source: BioCentury, Burrill & Company
Source: BioCentury