|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
As more intelligent IoT applications shift into gear, they’re merging into the ever-increasing traffic flow of the Internet. It won’t be long before we experience bottlenecks, as IoT traffic peaks during rush hours. Organizations that are unprepared will find themselves by the side of the road unable to cross back into the fast lane. As billions of new devices begin to communicate and exchange data – will your infrastructure be scalable enough to handle this new interconnected world?
Oct. 13, 2015 10:15 PM EDT Reads: 167
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in high-performance, high-efficiency server, storage technology and green computing, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/Big Data, HPC and Embedded Systems worldwide. Supermi...
Oct. 13, 2015 09:00 PM EDT Reads: 262
Who are you? How do you introduce yourself? Do you use a name, or do you greet a friend by the last four digits of his social security number? Assuming you don’t, why are we content to associate our identity with 10 random digits assigned by our phone company? Identity is an issue that affects everyone, but as individuals we don’t spend a lot of time thinking about it. In his session at @ThingsExpo, Ben Klang, Founder & President of Mojo Lingo, will discuss the impact of technology on identity. Should we federate, or not? How should identity be secured? Who owns the identity? How is identity ...
Oct. 13, 2015 09:00 PM EDT Reads: 501
This week, the team assembled in NYC for @Cloud Expo 2015 and @ThingsExpo 2015. For the past four years, this has been a must-attend event for MetraTech. We were happy to once again join industry visionaries, colleagues, customers and even competitors to share and explore the ways in which the Internet of Things (IoT) will impact our industry. Over the course of the show, we discussed the types of challenges we will collectively need to solve to capitalize on the opportunity IoT presents.
Oct. 13, 2015 08:30 PM EDT Reads: 149
Today’s connected world is moving from devices towards things, what this means is that by using increasingly low cost sensors embedded in devices we can create many new use cases. These span across use cases in cities, vehicles, home, offices, factories, retail environments, worksites, health, logistics, and health. These use cases rely on ubiquitous connectivity and generate massive amounts of data at scale. These technologies enable new business opportunities, ways to optimize and automate, along with new ways to engage with users.
Oct. 13, 2015 07:00 PM EDT Reads: 286
WebRTC converts the entire network into a ubiquitous communications cloud thereby connecting anytime, anywhere through any point. In his session at WebRTC Summit,, Mark Castleman, EIR at Bell Labs and Head of Future X Labs, will discuss how the transformational nature of communications is achieved through the democratizing force of WebRTC. WebRTC is doing for voice what HTML did for web content.
Oct. 13, 2015 07:00 PM EDT Reads: 1,505
Through WebRTC, audio and video communications are being embedded more easily than ever into applications, helping carriers, enterprises and independent software vendors deliver greater functionality to their end users. With today’s business world increasingly focused on outcomes, users’ growing calls for ease of use, and businesses craving smarter, tighter integration, what’s the next step in delivering a richer, more immersive experience? That richer, more fully integrated experience comes about through a Communications Platform as a Service which allows for messaging, screen sharing, video...
Oct. 13, 2015 06:15 PM EDT Reads: 1,234
SYS-CON Events announced today that Dyn, the worldwide leader in Internet Performance, will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Dyn is a cloud-based Internet Performance company. Dyn helps companies monitor, control, and optimize online infrastructure for an exceptional end-user experience. Through a world-class network and unrivaled, objective intelligence into Internet conditions, Dyn ensures traffic gets delivered faster, safer, and more reliably than ever.
Oct. 13, 2015 04:00 PM EDT Reads: 730
SYS-CON Events announced today that Sandy Carter, IBM General Manager Cloud Ecosystem and Developers, and a Social Business Evangelist, will keynote at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
Oct. 13, 2015 03:15 PM EDT Reads: 260
The Internet of Things (IoT) is growing rapidly by extending current technologies, products and networks. By 2020, Cisco estimates there will be 50 billion connected devices. Gartner has forecast revenues of over $300 billion, just to IoT suppliers. Now is the time to figure out how you’ll make money – not just create innovative products. With hundreds of new products and companies jumping into the IoT fray every month, there’s no shortage of innovation. Despite this, McKinsey/VisionMobile data shows "less than 10 percent of IoT developers are making enough to support a reasonably sized team....
Oct. 13, 2015 01:00 PM EDT Reads: 347
The IoT market is on track to hit $7.1 trillion in 2020. The reality is that only a handful of companies are ready for this massive demand. There are a lot of barriers, paint points, traps, and hidden roadblocks. How can we deal with these issues and challenges? The paradigm has changed. Old-style ad-hoc trial-and-error ways will certainly lead you to the dead end. What is mandatory is an overarching and adaptive approach to effectively handle the rapid changes and exponential growth.
Oct. 13, 2015 01:00 PM EDT Reads: 340
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal an...
Oct. 13, 2015 01:00 PM EDT Reads: 230
As a company adopts a DevOps approach to software development, what are key things that both the Dev and Ops side of the business must keep in mind to ensure effective continuous delivery? In his session at DevOps Summit, Mark Hydar, Head of DevOps, Ericsson TV Platforms, will share best practices and provide helpful tips for Ops teams to adopt an open line of communication with the development side of the house to ensure success between the two sides.
Oct. 13, 2015 12:00 PM EDT Reads: 695
The IoT is upon us, but today’s databases, built on 30-year-old math, require multiple platforms to create a single solution. Data demands of the IoT require Big Data systems that can handle ingest, transactions and analytics concurrently adapting to varied situations as they occur, with speed at scale. In his session at @ThingsExpo, Chad Jones, chief strategy officer at Deep Information Sciences, will look differently at IoT data so enterprises can fully leverage their IoT potential. He’ll share tips on how to speed up business initiatives, harness Big Data and remain one step ahead by apply...
Oct. 13, 2015 12:00 PM EDT Reads: 749
There will be 20 billion IoT devices connected to the Internet soon. What if we could control these devices with our voice, mind, or gestures? What if we could teach these devices how to talk to each other? What if these devices could learn how to interact with us (and each other) to make our lives better? What if Jarvis was real? How can I gain these super powers? In his session at 17th Cloud Expo, Chris Matthieu, co-founder and CTO of Octoblu, will show you!
Oct. 13, 2015 12:00 PM EDT Reads: 309
Developing software for the Internet of Things (IoT) comes with its own set of challenges. Security, privacy, and unified standards are a few key issues. In addition, each IoT product is comprised of at least three separate application components: the software embedded in the device, the backend big-data service, and the mobile application for the end user's controls. Each component is developed by a different team, using different technologies and practices, and deployed to a different stack/target - this makes the integration of these separate pipelines and the coordination of software upd...
Oct. 13, 2015 12:00 PM EDT Reads: 414
Today air travel is a minefield of delays, hassles and customer disappointment. Airlines struggle to revitalize the experience. GE and M2Mi will demonstrate practical examples of how IoT solutions are helping airlines bring back personalization, reduce trip time and improve reliability. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Dr. Sarah Cooper, M2Mi's VP Business Development and Engineering, will explore the IoT cloud-based platform technologies driving this change including privacy controls, data transparency and integration of real time context w...
Oct. 13, 2015 11:00 AM EDT Reads: 306
The Internet of Everything is re-shaping technology trends–moving away from “request/response” architecture to an “always-on” Streaming Web where data is in constant motion and secure, reliable communication is an absolute necessity. As more and more THINGS go online, the challenges that developers will need to address will only increase exponentially. In his session at @ThingsExpo, Todd Greene, Founder & CEO of PubNub, will explore the current state of IoT connectivity and review key trends and technology requirements that will drive the Internet of Things from hype to reality.
Oct. 13, 2015 11:00 AM EDT Reads: 323
"Matrix is an ambitious open standard and implementation that's set up to break down the fragmentation problems that exist in IP messaging and VoIP communication," explained John Woolf, Technical Evangelist at Matrix, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Oct. 13, 2015 07:00 AM EDT Reads: 6,014
Nowadays, a large number of sensors and devices are connected to the network. Leading-edge IoT technologies integrate various types of sensor data to create a new value for several business decision scenarios. The transparent cloud is a model of a new IoT emergence service platform. Many service providers store and access various types of sensor data in order to create and find out new business values by integrating such data.
Oct. 13, 2015 04:00 AM EDT Reads: 684