The biopharma IPO market is showing some signs of life heading into 2012, but conditions in and outside the markets continue to worry several observers. Most remain pessimistic about the prospects for a rebound by first-time public biotech and pharmaceutical companies.
“My expectation is that the IPO market will not dramatically improve next year, and the reality is, the IPO market has been abysmal for the last 10 years,” Mike Carusi, general partner with Advanced Technology Ventures, told GEN. “This isn’t a one-year issue. We have not seen a robust IPO market across the board since 1999–2000. That’s what has made venture financing so very challenging. We live and die by a healthy IPO market. And without that, it just limits the number of opportunities we have to exit our companies.”
Those views are gloomier than the one being offered by G. Steven Burrill who projects a total 25 biotechs worldwide will complete IPOs in 2012, compared with 16 counted by Burrill for 2011. “Biotech companies will continue to go public in choppy markets where they will grab opportunities as they arise.”
To read the full, original article click on this link: GEN | Insight & Intelligence™: Biopharma IPO Forecast for 2012 Expected to Remain Chilly
