Biotech IPOs Are Back: First Four For Fall Hit The Road
After a slow August and early September, Wall Street is preparing for four biotech IPOs. Biotech IPOs have been on fire, outperforming even the vigorous biotech indices. But the question remains – can public investors get too much of a good thing?
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Bristol strengthens its leading role in the immuno-oncology space through a discovery and development collaboration with newly public biotech Five Prime, a deal that could be worth more than $350 million with earn-outs. The pharma also takes an equity stake in its new oncology partner.
After a bit of a lull since September, there are seven biotechnology IPOs slated to get out in the next few weeks. But they are entering a tougher market than earlier in 2013, and some may not be quite the same quality.
The largest dedicated health care investor has closed a huge new fund, which came almost entirely from existing investors. OrbiMed isn’t the only firm capitalizing on the robust biotech IPO market. A few VCs are starting to take gains from IPO winners through secondary offerings.