The venture capital invested in med tech startups dipped below $500 million during the first quarter--for the first time since the fourth quarter of 2013, according to the MoneyTree Report from PricewaterhouseCoopers and the National Venture Capital Association based on data provided by Thomson Reuters.
Aduro Biotech is picking up in 2015 where it left off last year, riding momentum into an upsized $119 million IPO to fund its breakthrough pancreatic cancer immunotherapy combo CRS-207 and GVAX.
French medical diagnostics outfit Labco is inching closer to an IPO, filing plans to go public during the first half of 2015 to generate growth and expand its footprint in the field.
New York City's Anterios is developing ANT-1207, a lotion containing the active ingredient of Botox (marketed by recently acquired Allergan) that can be applied on the skin via a 10-minute massage. Anterios recently filed for a $58 million IPO with the Securities and Exchange Commission.
Microbial genetics analysis outfit OpGen set the terms for its previously announced IPO, planning to raise up to $35 million to support development of its gene tests for drug-resistant bacteria.
Fierce 15 member Infraredx backed out of its planned $56 million IPO, citing "unfavorable market conditions."
MultiVir, a developer of viral vectors to deliver anticancer gene therapy, just filed for a $70 million IPO with the Securities and Exchange Commission as it seeks funding for clinical trials of its Phase I/II lead candidates for colorectal cancer and head and neck cancer, and to take the first FDA-approved gene therapy to the market.
The big question of the day is whether the unprecedented bull market we've been seeing generate billions of dollars for biotech is sustainable or has transformed into a fragile bubble ready to pop. And we decided to put that question to our audience of subscribers, looking for a revealing snapshot of what the industry is thinking today.
Royal Philips plans an IPO for its lighting solutions business during the first half of next year. It's slated to offer only a minority interest in the IPO, which will be followed subsequently by one or more follow-on offerings intended to fully divest Philips.
Med tech IPOs came on strong during the first couple of months of the year with at least a half-dozen new offerings. But that pulled back in recent weeks as some med tech players in the IPO queue opted to postpone or withdraw instead.