|By Marketwired .||
|February 1, 2013 10:57 AM EST||
SAN FRANCISCO, CA -- (Marketwire) -- 02/01/13 -- Life sciences financing activity got a strong start in the new year as companies raised $10.3 billion in January. The Pfizer animal health unit Zoetis was responsible for more than half the activity through a debt offering and the largest IPO since Facebook debuted in May 2012. The robust activity dwarfed the $4.2 billion raised during the same period a year ago, according to Burrill & Company.
Companies raised more than $6 billion during the month through debt offerings. This included Zoetis' heavily oversubscribed $3.7 billion bond deal ahead of its IPO. It also included nearly $1.3 billion in debt offerings from nine smaller therapeutics companies, as well as nearly $700 million raised in two medical device company financings.
The Zoetis IPO priced at $26, above its expected $22 to $25 range. Three other companies, LipoScience, an in vitro diagnostic company; Stemline Therapeutics, which is developing therapies that target cancer stem cells; and KaloBios Pharmaceuticals, a developer of next-generation antibodies, raised a combined $153 million through initial public offerings. That compares to $135 million raised through IPOs on U.S. exchanges a year ago. Almost $1.6 billion was raised by follow-ons in January, tripling January 2012's total, and reflecting the improved environment for public therapeutics companies seeking to raise capital.
"Enthusiasm in the market for life sciences has picked up following a positive JPMorgan Healthcare Conference, a strong year of FDA approvals capped with a flurry of activity in December, and the impressive returns the sector provided in 2012," says G. Steven Burrill, CEO of Burrill & Company, a global financial services firm focused exclusively on the life sciences. "Though the activity is encouraging, capital continues to be expensive and difficult to access for many companies, particularly those that have not yet commercialized products."
BURILL INDICES Month Year Index 12/31/2012 1/31/2013 Change Change Burrill Select 607.66 634.23 4.4% 4.4% Burrill Large Cap 736.90 759.90 3.1% 3.1% Burrill Mid-Cap 309.52 332.44 7.4% 7.4% Burrill Small Cap 105.99 119.39 12.6% 12.6% Burrill Diagnostics 191.32 202.54 5.9% 5.9% Burrill Personalized Medicine 119.22 127.48 6.9% 6.9% Burrill Biogreentech 162.27 175.67 8.3% 8.3% NASDAQ 3019.51 3142.13 4.1% 4.1% DJIA 13104.14 13860.58 5.8% 5.8% S&P 500 1426.19 1498.11 5.0% 5.0% Amex Biotech 1547.03 1661.17 7.4% 7.4% Amex Pharmaceutical 369.57 394.99 6.9% 6.9%
On the venture capital front, life sciences companies globally raised nearly $1.1 million in January, about the same as a year ago. That included the $294 million investment in Brazil-based GraalBio, which will use the funding to develop cellulosic ethanol technologies at its first commercial facility located in Alagoas, Brazil. The $709 million raised by U.S.-based companies in January, though, is down about 14 percent from activity a year ago.
Global M&A activity for January reached $4.5 billion, down 32 percent from a year ago. Botox-maker Allergan's $958 million acquisition of MAP Pharmaceuticals, its partner in developing the experimental orally-inhaled migraine drug Levadex, was the largest transaction for the month. The acquisition reflects an effort by Allergan to expand its offerings to neurologists and pain specialists. The U.S. Food and Drug Administration is expected to decide on whether it will approve Levadex in April.
Global partnering deals fell to $2.1 billion in January, a 56 percent decline from levels a year ago. Gilead Sciences' collaboration with MacroGenics -- worth up to $1.1 billion -- covers the development and commercialization of bi-specific antibodies directed at four undisclosed targets chosen by Gilead. The biotech's proprietary Dual Affinity Re-Targeting platform, or DART, can engineer antibodies that can target multiple antigens, an area of growing interest among drug developers as they seek to increase the efficacy of their therapies by hitting multiple targets at the same time.
"The low numbers for partnering activity extend a downturn seen in 2012 in part because of fewer financial terms being disclosed," says Burrill. "But it also reflects a shift among larger pharmaceutical companies focusing more of their attention to academic and non-profit research institutions as they look for discovery- and early-stage candidates."
Life Sciences Scorecard in USD M YTD YTD 1/31/13 1/31/12 Change Global Venture Capital 1,144 1,064 7.5% U.S. VC 795 826 -3.8% IPOs (4 in 2013 vs 3 in 2012) 2,253 262 759.9% U.S. IPOs (4 in 2013 vs 2 in 2012) 2,253 135 1568.9% Global PIPEs 184 158 16.5% U.S. PIPEs 101 72 40.3% Global Follow-ons 1,585 477 232.3% U.S. Follow-ons 1,585 477 232.3% Global Other Equity 54 338 -84.0% U.S. Other Equity 45 323 -86.1% Global Debt Offerings 5,783 2,593 123.0% U.S. Debt 4,968 2,201 125.7% Global Other Debt 263 338 -22.2% U.S. Other Debt 226 334 -32.3% Total Global Public Financings 10,122 4,166 143.0% Total U.S. Public Financings 9,178 3,542 159.1% Global Partnering 2,082 4,713 -55.8% U.S. Partner/Licenser 1,889 2,676 -29.4% Global M&A 4,859 6,720 -27.7% M&A, U.S. Target 2,482 5,765 -56.9%
The FDA in January approved a trio of new drug treatments for type 2 diabetes. All three drugs, Nesina, Kazano, and Oseni will be distributed by Takeda Pharmaceutical and include the new molecular entity alogliptin, developed through a partnership between Takeda and Furiex Pharmaceuticals. Alogliptin helps stimulate the release of insulin after a meal, which leads to better blood sugar control. Nesina tablets contain alogliptin alone, while Kazano combines alogliptin with the already-approved metformin hydrochloride and Oseni combines it with pioglitazone.
The agency also approved Kynamro, a new injectable cholesterol-lowering drug co-developed by Genzyme and Isis Pharmaceuticals, despite liver safety concerns. Kynamro, also known as mipomersen, is approved to treat people with homozygous familial hypercholesterolemia, an inherited condition that causes high levels of low-density lipoprotein cholesterol levels beginning at birth, and heart attacks at an early age. The approval comes about one month after Aegerion Pharmaceuticals won U.S. approval for Juxtapid, another medicine for the disorder that comes in pill form.
The European Commission announced the winners of its Future and Emerging Technologies Flagship Initiative, the largest single science competition to be held in Europe to date. Each will receive $1.36 billion (EUR 1 billion) over ten years. The Human Brain Project was named as one of the winners. It will create the world's largest experimental brain research facility and seeks to develop a detailed model of the human brain so researchers can study how it works and ultimately develop personalized treatments for neurological and related diseases.
The California Institute for Regenerative Medicine -- California's stem cell agency backed by a $3 billion ballot initiative -- said its board has adopted a framework of proposals that could "dramatically change some aspects of its work." The proposals are aimed at addressing criticism over potential conflicts of interest in the way the board decides how to allocate grants and come in response to a series of recommendations from the Institute of Medicine. The IOM made those recommendations as part of a report requested by the agency, which was seeking an independent assessment of its programs, operations, strategies, and performance.
"CIRM's funding is expected to last about four more years, but there are many who hope it will have a life that extends well beyond that period," says Burrill. "It's vital that it has credibility and the public's trust if it is to continue its mission far into the future."
About Burrill & Company
Founded in 1994, Burrill & Company is a diversified global financial services firm focused on the life sciences industry. With $1.5 billion in assets under management, the firm's businesses include venture capital/private equity, merchant banking, and media. By leveraging the scientific and business networks of its team, Burrill & Company has established unrivaled access and visibility in the life sciences industry. This unique combination of resources and capabilities enables the company to provide life sciences companies with capital, transactional support, management expertise, insight, market intelligence, and analysis through its investments, conferences, and publications. Headquartered in San Francisco, the company oversees a global network of offices throughout the United States, Latin America, Europe, and Asia. For more information visit: www.burrillandco.com.
Burrill & Company
Scott Jenson leads a project called The Physical Web within the Chrome team at Google. Project members are working to take the scalability and openness of the web and use it to talk to the exponentially exploding range of smart devices. Nearly every company today working on the IoT comes up with the same basic solution: use my server and you'll be fine. But if we really believe there will be trillions of these devices, that just can't scale. We need a system that is open a scalable and by using the URL as a basic building block, we open this up and get the same resilience that the web enjoys.
Nov. 25, 2014 06:30 PM EST Reads: 691
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, discussed single-value, geo-spatial, and log time series data. By focusing on enterprise applications and the data center, he will use OpenTSDB as an example t...
Nov. 25, 2014 06:30 PM EST Reads: 726
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at @ThingsExpo, Robin Raymond, Chief Architect at Hookflash, will walk through the shifting landscape of traditional telephone and voice services ...
Nov. 25, 2014 06:00 PM EST Reads: 1,255
The Domain Name Service (DNS) is one of the most important components in networking infrastructure, enabling users and services to access applications by translating URLs (names) into IP addresses (numbers). Because every icon and URL and all embedded content on a website requires a DNS lookup loading complex sites necessitates hundreds of DNS queries. In addition, as more internet-enabled ‘Things' get connected, people will rely on DNS to name and find their fridges, toasters and toilets. According to a recent IDG Research Services Survey this rate of traffic will only grow. What's driving t...
Nov. 25, 2014 05:30 PM EST Reads: 1,034
Enthusiasm for the Internet of Things has reached an all-time high. In 2013 alone, venture capitalists spent more than $1 billion dollars investing in the IoT space. With "smart" appliances and devices, IoT covers wearable smart devices, cloud services to hardware companies. Nest, a Google company, detects temperatures inside homes and automatically adjusts it by tracking its user's habit. These technologies are quickly developing and with it come challenges such as bridging infrastructure gaps, abiding by privacy concerns and making the concept a reality. These challenges can't be addressed w...
Nov. 25, 2014 04:30 PM EST Reads: 1,130
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at Internet of @ThingsExpo, James Kirkland, Chief Architect for the Internet of Things and Intelligent Systems at Red Hat, described how to revolutioniz...
Nov. 24, 2014 07:00 PM EST Reads: 1,550
Bit6 today issued a challenge to the technology community implementing Web Real Time Communication (WebRTC). To leap beyond WebRTC’s significant limitations and fully leverage its underlying value to accelerate innovation, application developers need to consider the entire communications ecosystem.
Nov. 24, 2014 12:00 PM EST Reads: 1,432
The definition of IoT is not new, in fact it’s been around for over a decade. What has changed is the public's awareness that the technology we use on a daily basis has caught up on the vision of an always on, always connected world. If you look into the details of what comprises the IoT, you’ll see that it includes everything from cloud computing, Big Data analytics, “Things,” Web communication, applications, network, storage, etc. It is essentially including everything connected online from hardware to software, or as we like to say, it’s an Internet of many different things. The difference ...
Nov. 24, 2014 11:00 AM EST Reads: 1,559
Cloud Expo 2014 TV commercials will feature @ThingsExpo, which was launched in June, 2014 at New York City's Javits Center as the largest 'Internet of Things' event in the world.
Nov. 24, 2014 09:00 AM EST Reads: 1,577
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, phone and digital TV services to consumers primarily in rural areas.
Nov. 23, 2014 07:30 PM EST Reads: 1,764
"There is a natural synchronization between the business models, the IoT is there to support ,” explained Brendan O'Brien, Co-founder and Chief Architect of Aria Systems, in this SYS-CON.tv interview at the 15th International Cloud Expo®, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Nov. 23, 2014 12:00 PM EST Reads: 1,707
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com), moderated by Ashar Baig, Research Director, Cloud, at Gigaom Research, Nate Gordon, Director of T...
Nov. 23, 2014 07:45 AM EST Reads: 1,714
An entirely new security model is needed for the Internet of Things, or is it? Can we save some old and tested controls for this new and different environment? In his session at @ThingsExpo, New York's at the Javits Center, Davi Ottenheimer, EMC Senior Director of Trust, reviewed hands-on lessons with IoT devices and reveal a new risk balance you might not expect. Davi Ottenheimer, EMC Senior Director of Trust, has more than nineteen years' experience managing global security operations and assessments, including a decade of leading incident response and digital forensics. He is co-author of t...
Nov. 22, 2014 05:30 PM EST Reads: 1,457
ARMONK, N.Y., Nov. 20, 2014 /PRNewswire/ -- IBM (NYSE: IBM) today announced that it is bringing a greater level of control, security and flexibility to cloud-based application development and delivery with a single-tenant version of Bluemix, IBM's platform-as-a-service. The new platform enables developers to build ap...
Nov. 22, 2014 05:30 PM EST Reads: 1,530
The security devil is always in the details of the attack: the ones you've endured, the ones you prepare yourself to fend off, and the ones that, you fear, will catch you completely unaware and defenseless. The Internet of Things (IoT) is nothing if not an endless proliferation of details. It's the vision of a world in which continuous Internet connectivity and addressability is embedded into a growing range of human artifacts, into the natural world, and even into our smartphones, appliances, and physical persons. In the IoT vision, every new "thing" - sensor, actuator, data source, data con...
Nov. 21, 2014 08:00 PM EST Reads: 1,458
Technology is enabling a new approach to collecting and using data. This approach, commonly referred to as the "Internet of Things" (IoT), enables businesses to use real-time data from all sorts of things including machines, devices and sensors to make better decisions, improve customer service, and lower the risk in the creation of new revenue opportunities. In his General Session at Internet of @ThingsExpo, Dave Wagstaff, Vice President and Chief Architect at BSQUARE Corporation, discuss the real benefits to focus on, how to understand the requirements of a successful solution, the flow of ...
Nov. 21, 2014 08:00 PM EST Reads: 1,534
"BSQUARE is in the business of selling software solutions for smart connected devices. It's obvious that IoT has moved from being a technology to being a fundamental part of business, and in the last 18 months people have said let's figure out how to do it and let's put some focus on it, " explained Dave Wagstaff, VP & Chief Architect, at BSQUARE Corporation, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Nov. 21, 2014 07:00 PM EST Reads: 1,385
Focused on this fast-growing market’s needs, Vitesse Semiconductor Corporation (Nasdaq: VTSS), a leading provider of IC solutions to advance "Ethernet Everywhere" in Carrier, Enterprise and Internet of Things (IoT) networks, introduced its IStaX™ software (VSC6815SDK), a robust protocol stack to simplify deployment and management of Industrial-IoT network applications such as Industrial Ethernet switching, surveillance, video distribution, LCD signage, intelligent sensors, and metering equipment. Leveraging technologies proven in the Carrier and Enterprise markets, IStaX is designed to work ac...
Nov. 20, 2014 09:15 PM EST Reads: 1,436
C-Labs LLC, a leading provider of remote and mobile access for the Internet of Things (IoT), announced the appointment of John Traynor to the position of chief operating officer. Previously a strategic advisor to the firm, Mr. Traynor will now oversee sales, marketing, finance, and operations. Mr. Traynor is based out of the C-Labs office in Redmond, Washington. He reports to Chris Muench, Chief Executive Officer. Mr. Traynor brings valuable business leadership and technology industry expertise to C-Labs. With over 30 years' experience in the high-tech sector, John Traynor has held numerous...
Nov. 20, 2014 06:00 PM EST Reads: 1,384
The 3rd International @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades.
Nov. 20, 2014 01:00 PM EST Reads: 1,659