Lately, there’s been a whole lot of bemoaning of this and that to explain why VCs are abandoning the biotech and device space and why strategics are slowing early-stage funding. Lawmakers and regulators have made it too tough to IPO. Lawmakers and regulators have made it too tough to get anything approved at the FDA.
Thing is, companies are still able to bring products to other markets, and this may be where some late-stage funding capital is headed. Washington doesn’t have many solutions that will help VCs make timely enough exits for their LPs, so perhaps testing out other marketplaces will be the best way to show the U.S. what it’s missing.
Still, we kicked off the fourth quarter of 2011 with market turmoil, and quite a few big late-stage deals in the device and drug spaces got done. VCs are finding more strategics willing to partner up with private capital. Maybe the deals closing out 2011 will provide investors and entrepreneurs with a roadmap to next year’s successful investments. One thing’s for sure: late-stage deals are still attracting plenty of healthcare, device and biotech VCs.
The Lowdown: arGEN-X is a bio-pharmaceutical company developing human monoclonal antibodies.
The Haul: $37 million, or 27.5 million Euro, earlier this month.
The Backers: Orbimed Advisors and Seventure Partners co-led the round, but Forbion Capital Partners, Credit Agricole Private Equity, LSP, BioGeneration Ventures, the Erasmus Biomedical Fund, Thuja Capital and VIB pitched in.