BioWorld’s Peter Winter reports that the mood is upbeat at today’s kickoff of the 33rd annual J.P. Morgan Healthcare Conference in San Francisco (check out the story here, subscription required). Winter points to coming off ‘a record year in terms of raising capital, performance on the capital markets and partnering and mergers and acquisitions’ as one reason for the strong momentum at this year’s conference.
Looking ahead, Roth Capital Partners’ John Chambers shared with Winter a positive outlook on the industry. Chambers cites financings raised so far this year and positive investor sentiment resulting from strong presentations. He added that the ‘appetite for biotech feels much more self-sustaining, with the large-cap companies evolving and driving consistent growth.’ [Note: Check out this BIO Buzz Center interview with Chambers at the 2014 BIO Investor Forum.]
John Lechleiter, PhD, Chairman, President and CEO of Eli Lilly and Company pointed to ‘outcomes of great science and new technologies’ that is propelling investor interest and optimism toward the biotech industry during a CNBC interview this morning.
The big deal-making news today is that Shire will acquire NPS Pharmaceuticals for $5.2 billion, for details check out the story in Reuters.
The IPO market also is expected to be strong this year, according to the National Venture Capital Association. “With the economy continuing to gain steam and the appetite for high-growth companies on the cutting edge of innovation at a high, we hope that the public markets continue to provide opportunities for the next batch of companies coming up through the venture pipeline,” said Bobby Franklin, president and CEO of NVCA in the BioWorld Insights story.
This timing could not be better for the upcoming 17th Annual BIO CEO & Investor Conference to be held February 9-10, 2015 in New York City. BIO recently released the preliminary list of presenting companies, which includes companies with clinical stage programs focused on therapeutics, molecular diagnostics, or a platform technology, as well as an upcoming clinical, regulatory, or corporate catalyst.
“We’ve just experienced another banner year for biotech IPOs, with 81 companies in our industry going public in 2014, an increase of nearly 90 percent over 2013. We are thrilled to be hosting one-quarter of the 2014 IPO class as presenting companies at the BIO CEO & Investor Conference,” said BIO President and CEO Jim Greenwood.