COVID-19 put many businesses on hold, but not biotech. This sector is growing at record speeds, and only a small portion of the capital deals are related to the pandemic.
Both the number and dollar amount of biotech transactions are increasing. LifeSci Partners, in a series of just-released reports, recorded 184 biotech capital transactions totaling nearly $26 billion for the first half of the 2020. The number of transactions is up 138% from the same period last year, while the value of the deals increased only slightly – from $113 million in 2019 to nearly $118 million today. Only 11% of those deals were COVID-driven. They accounted for almost $3.8 billion in funding.