Article preview from Start-Up December 23, 2008
In 2007, what did Series A venture investments reveal about the state of the health care industry? It was very healthy, thank you. There were quite a few deals to choose from, and numbers demonstrated continued growth in diagnostics fundraising, a resurgence in vaccines, and evidence of pharma's interest in proof-of-concept projects and large-molecule platforms. Read more...
Article preview from Start-Up December 23, 2008
The A-List: 2007's Trend Shaping Series A Financings
In 2007, what did Series A venture investments reveal about the state of the health care industry? It was very healthy, thank you. There were quite a few deals to choose from, and numbers demonstrated continued growth in diagnostics fundraising, a resurgence in vaccines, and evidence of pharma's interest in proof-of-concept projects and large-molecule platforms. Medical device investors, meanwhile, remain enamored with concept companies seeking to blend electronics-such as neurostimulation or miniature sensors-with devices.
The 14 start-ups on our list of last year's top Series A financings represent investment and strategic trends that should stretch into 2008 and beyond. And there were quite a few deals to choose from. According to Windhover's Strategic Transactions Database, there were nearly 80 Series As completed by biopharmaceutical firms—a significant up-tick over the past few years—though the average round was down to about $15.1 million from nearly $20 million last year. Meanwhile, in a sign of how venture dollars are rushing to later-stage device deals, medical device companies actually raised fewer Series A dollars than they did in 2006, $197 million versus $244 million, with the average size per deal slipping to $8.2 million from $9.3 million. Diagnostics firms continued to attract serious VC attention, building on last year's breakout numbers.
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Companies Mentioned
Ablynx NV
Adimab Inc.
Aegerion Pharmaceuticals Inc.
Aerie Pharmaceuticals Inc.
Aetas Pharma Co. Ltd.
Affiris GMBH
Alimera Sciences Inc.
Alnylam Pharmaceuticals Inc.
Amgen Inc.
Apnex Medical Inc.
Astellas Pharma Inc.
Agensys Inc.
AstraZeneca PLC
BIND Biosciences Inc.
Bayer AG
Bayer Corp.
Bayer HealthCare LLC
Bayer Schering Pharma AG
Biogen Idec Inc.
Bristol-Myers Squibb Co.
Adnexus Therapeutics Inc.
California Institute of Technology
CardioMEMS Inc. Cardiovascular Systems Inc.
Carigent Therapeutics Inc.
Carticept Medical Inc.
Celgene Corp.
Pharmion Corp.
Cequent Pharmaceuticals Inc.
Cerulean Pharma Inc.
City of Hope National Medical Center
Beckman Research Institute
Claros Diagnostics Inc.
CombinatoRx Inc.
Cornerstone Therapeutics Inc.
Critical Therapeutics Inc.
Dicerna Pharmaceuticals Inc.
Feinstein Institute for Medical Research
Follica Inc.
Forest Laboratories Inc.
Galenica Group
Aspreva Pharmaceuticals Corp.
Genentech Inc.
Gentis Inc.
GlycoVaxyn AG
Helicos BioSciences Corp.
Helixis Inc.
Illumina Inc.
Immune Targeting Systems Ltd.
Incept BioSystems Inc.
InnerPulse Inc.
Innovative Metabolics Inc.
Integrated DNA Technologies Inc.
Ironwood Pharmaceuticals Inc.
Johnson & Johnson
Conor Medsystems LLC
Juvaris BioTherapeutics Inc.
Light Sciences Oncology Inc.
Lux Biosciences Inc.
MDRNA Inc.
Massachusetts Institute of Technology
Merck & Co. Inc.
NovaCardia Inc.
Sirna Therapeutics Inc.
Molecular Partners AG
Movetis NV
NuVasive Inc.
Okairos AG
OphthoTech Corp.
Optherion Inc.
OrthoMEMS Inc.
Pevion Biotech Ltd.
Prosensa BV
Salk Institute for Biological Studies
Sensimed AG Sequel Pharmaceuticals Inc.
Spine Wave Inc.
Syndax Pharmaceuticals Inc.
Synosia Therapeutics Inc.
Trubion Pharmaceuticals Inc.
University of Pennsylvania
University of Pennsylvania School of Medicine
Variation Biotechnologies Inc.
Vaxart Inc.
Verus Pharmaceuticals Inc.
deCode genetics Inc.
f-star Biotechnology Research & Development Co.
