The bad news? Fewer deals happened in the 1st half 2012 -- with only 59 in the last Qtr.
Worse news? Deals are also smaller -- averaging only $9.3 M per deal or back to 2007 levels. Plus back ends have shrunk in size as well.
Worst news? IPOs are non-existent. Total global VC dollars spent on biotech dropped by 43% over prior year to only $550 M in 1st half. European companies only received $48 M of that. OUCH!
In fact, biotechs raised only $2.76 billion in the second quarter, down 46.4%. For the full first half of the year, private and public biotechs raised only $7.9 billion, down 40% from the same period in 2011.
Posted by Bruce Lehr July 11th 2012