Biotech Offerings Rose In 2013

Last year was an especially good year for U.S. initial public offerings of venture-capital-backed biotechnology firms. Biotech firms made up more than half of the year’s venture-backed IPOs, which is more than the previous five years combined, said John S. Taylor, head of research at the National Venture Capital Association. Overall, 2013 was also the best year since 2007 for venture-backed IPOs. A total of 82 start-up firms went public last year, according to NVCA and business information gatherer Thomson Reuters, up from 49 in 2012. A bulging pipeline of companies still awaits favorable market conditions, Taylor adds, and so NVCA is hopeful the upward trend will continue.