BayBio’s 2014 Hot Hits
2014 was a banner year for the life science industry, setting many new records, and our region – driven by innovation and entrepreneurs – was at the forefront.
The IPO window stayed open all year, allowing over 100 life science companies to complete initial public offerings, including 20 from the Bay Area that cumulatively raised over $1.8 Billion. Three of the top four IPOs last year were from Bay Area companies.
Bay Area venture capital firms, buoyed by exits from their existing portfolio companies, raised new funds and capital once again flowed into early stage, innovation-driven Bay Area companies. Partnering deals increased in both size and number as pharma looked to the Bay Area’s innovation engine to fuel their pipelines. Encouragingly, these included many high value discovery collaborations.
A record breaking 41 new molecular entities were approved by the FDA. From Bay Area companies, Kerydin, Harvoni, Movantik, Vimizim and Zydelig were approved, bringing new treatment options to millions of patients.
While start-ups and innovation centers buzzed with energy, little of the funding flowing into the sector has yet trickled down to start-ups. BayBio, through the BayBio Institute, continues to support entrepreneurs with capital access programs and advisory services including FAST, to help the next generation of companies grow and succeed.
Over the last six years, BayBio has made a conscious effort to unify the Bay Area’s ecosystem and provide meaningful value to all members. We have brought together our industry’s leaders and presented their ideas and their innovations to our members through our Lunch and Learns, the CALBIO annual conference and CEO dinners and conferences. We have initiated Pharma Partnering Days to provide capital access and have expanded our purchasing programs to help companies increase their bottom line. We have orchestrated hundreds of meetings between life science leaders and legislators to advocate and deliver tax benefits in Sacramento and Washington. Our efforts have helped our community grow and to remain one of the most productive life science clusters in the world.
We will continue to provide this work into the future. The merger with CHI to form a statewide organization will allow us to expand our services, programs and advocacy – delivering more purchasing power, a unified advocacy voice, and a larger community for collaboration. It all comes down to providing the best service possible to our members.
BayBio has been a steward for the Bay Area’s life science community since its founding 25 years ago. As this chapter closes and a new one begins, the BayBio staff remains here – often doing work behind the scenes – to ensure that your companies succeed, and to ensure that Northern California remains the number one life science hub nationally and globally.