Table 3 The composition of fundraising activities

All Fundraising Deals (N=32,250)

Avg yearly amount: 767

Avg yearly amount: 1145

Avg yearly amount: 2615

Avg yearly amount: 1617

Deal Subtype^b

Stage of the financing cycle for the target company

     Early stage

Conceptualization stage with products not fully developed

42

5%

100

9%

181

7%

***

159

10%

***

     Later stage

The product is fully developed, tested, and ready to be launched

73

10%

137

12%

335

13%

***

215

13%

***

     Private equity

Acquired by a private equity firm

157

20%

183

16%

449

17%

***

186

11%

***

     IPO

Initial public offering

119

15%

116

10%

426

16%

***

104

6%

***

     Other equity offerings

Private investment in public equity or secondary offerings

376

49%

609

53%

1,224

47%

***

952

59%

***

Region^b

The geographical region where the deal took place

     Asia-Pacific

-

186

24%

210

18%

578

22%

***

289

18%

***

     Europe

-

155

20%

214

19%

514

20%

***

165

10%

***

     North America

-

402

52%

708

62%

1,489

57%

***

1,150

71%

***

     Others

-

23

3%

14

1%

33

1%

***

11

1%

***

All Fundraising Deals w/ Available Drug Attributes (N=17,044)

Avg yearly amount: 349

Avg yearly amount: 653

Avg yearly amount: 1466

Avg yearly amount: 673

Development Phase^b

The development stage of the least advanced drug/drug candidate in the portfolio of the target company

     Discovery

Identification and optimization of a substance for therapeutic use

72

21%

223

34%

684

47%

***

334

50%

***

     Preclinical

Testing of a drug in nonhuman animals or in vitro studies for a candidate drug

113

32%

261

40%

439

30%

***

196

29%

***

     Clinical

Testing of a drug in humans to determine health outcomes

99

28%

127

19%

271

19%

***

131

19%

***

     FDA reviewed/Marketed

FDA-reviewed or marketed drugs

65

19%

42

6%

72

5%

***

12

2%

***

Therapy Area^c

With a drug/drug candidate in a specific disease area

Metabolic Disorders

-

145

41%

230

35%

498

34%

212

29%

Cardiovascular

-

116

33%

159

24%

378

26%

129

18%

Immunology

-

133

37%

256

39%

631

43%

257

36%

Oncology

-

202

57%

437

66%

1030

70%

437

61%

Respiratory

-

111

31%

166

25%

428

29%

140

20%

Musculoskeletal Disorders

-

103

29%

151

23%

381

26%

140

19%

Infectious Disease

-

142

40%

250

38%

662

45%

*

284

39%

Gastrointestinal

-

129

36%

182

28%

453

31%

182

25%

Central Nervous System

-

172

49%

266

40%

633

43%

270

38%

Molecule Type^c

With a drug/drug candidate of a specific molecule type

Gene &Cell

-

45

13%

119

18%

357

25%

**

149

21%

Protein

-

69

19%

97

15%

308

21%

**

111

16%

Vaccine

-

31

9%

52

8%

169

12%

76

11%

Anti-Body

-

69

19%

167

25%

506

35%

***

216

31%

Peptide

-

50

14%

71

11%

190

13%

67

10%

Small Molecule

-

241

68%

382

58%

839

58%

382

54%

Recombinant

-

73

21%

95

14%

244

17%

93

13%

Biologic

-

7

2%

17

3%

107

7%

***

41

6%

Oligonucleotide

-

22

6%

47

7%

154

11%

45

6%