American Association of Individual Investors (AAII)’s Post

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As the first quarter of 2024 is coming to a close, it's shaping up to be an exciting year in biotech and biopharma. A few reasons for optimism (with references you should really check out yourself): 💰 • Investment has picked up, specifically with series A and series B rounds of funding. With a shift in focus on delivering tangible value rather than futures, investors are clearly more bullish on new investment. https://lnkd.in/gB3cdUP7 📊 • M&A activity (and strategic partnerships) has also seen an uptick to start the year, right on the heals of a strong 2023 Q4. https://lnkd.in/gsPrNCpi 📈 • While we saw a slow down in March, IPO activity has also been strong to start the year - stronger than at any point since 2021. Certainly something to keep an eye on, and prepare for, as we head deeper into the year. https://lnkd.in/gJxn-gEG https://lnkd.in/gbFJyBva Now is the time to ensure your organization is in position to fully capitalize on a very exciting time for biotech and life sciences.

What have been the average pre-money valuations of new VC-led investment rounds in Biopharma in the first half of 2024? From an HSBC analysis of 58 Biopharma investments covering series A to Post C rounds in the H1 2024 in Europe and the US, it shows that the median pre-money valuation ranges from $48m (series A) to $235m (Post C). The median deal size ranged from $31m (series A) to $112m (Post C), whereby the median step-up in value decreased from 1.8x in series A to a 1.1x in Post C. In total there were 6 down-rounds, which clustered around the March time-frame. The biggest step ups in value occurred in Q2. In our experience, preparing well for valuation discussions typically results in securing better deal terms.

Companies with exceptional organic growth and well-integrated business units in outsourced pharma services, healthcare IT, payer technology and services, medical products and devices, and a variety of provider subsectors were prioritized by buyers in 2023. Our 2024 Healthcare & Life Sciences Outlook report reflects on examples of several trends that initiated rising momentum over the past year and highlights the appealing categories where we anticipate an increase in investor activity to come.

Companies with exceptional organic growth and well-integrated business units in outsourced pharma services, healthcare IT, payer technology and services, medical products and devices, and a variety of provider subsectors were prioritized by buyers in 2023. Our 2024 Healthcare & Life Sciences Outlook report reflects on examples of several trends that initiated rising momentum over the past year and highlights the appealing categories where we anticipate an increase in investor activity to come.

What have been the average pre-money valuations of new VC-led investment rounds in Biopharma in the first half of 2024? From an HSBC analysis of 58 Biopharma investments covering series A to Post C rounds in the H1 2024 in Europe and the US, it shows that the median pre-money valuation ranges from $48m (series A) to $235m (Post C). The median deal size ranged from $31m (series A) to $112m (Post C)!

Our Q2 2024 Market Conditions Report highlights how there has been a substantial improvement in both the private and public biotech capital markets in H1 2024, with total deal value surpassing the total value for the entire year of 2023. However, the public markets remain challenging for earlier stage companies, and the IPO window remains largely closed, favoring later-stage companies with robust data and insider support. Download Locust Walk’s Q2 2024 Market Conditions Report to learn more about the biopharma landscapes: https://lnkd.in/eZuFcVpG

A strong finish to the year with the fund finishing the year up 24.28% in absolute terms and 2.21% ahead of its benchmark. For the quarter the fund returned 4.92% in absolute terms despite the AUD rallying 6%. Slowing inflation, resilient economic performance, generally positive earnings revisions and some multiple expansion helped counter some of the ongoing geopolitical concerns. This quarter in addition to the usual industry exposures, portfolio activity and look through portfolio we focus on our healthcare exposure the VHT. Our stock in focus is Amgen which looks to present a good mix of risk and reward at a reasonable valuation. George Clapham Equity Trustees

2024 is rapidly shaping up to be an outstanding year for private equity deal activity with both TPG and KKR now pointing to a strong funnel of H2 activity. The life science tools and pharma services markets in particular provide an excellent entry point with multiple technology and market disruption opportunities along the biopharma value chain. #sustainability #PrivateEquity #SocialImpact #biopharma #biomaterials