RT Journal Article
SR Electronic
T1 Private and Public “Cradle to Maturity” Financing Patterns of U.S. Biotech Ventures (1970–2001)
JF The Journal of Private Equity
FD Institutional Investor Journals
SP 9
OP 25
DO 10.3905/jpe.2004.391047
VO 7
IS 2
A1 Irvin W. Morgan, Jr
A1 Pier A. Abetti
YR 2004
UL https://pm-research.com/content/7/2/9.abstract
AB Since 1970, U.S. biotech firms have raised over $141 billion in private and public financings. All types of financings in the 1970–2001 timeframe are investigated from “cradle to maturity,” or “cradle to grave.” The objectives are to determine: 1) if there are specific financing patterns that result in higher probability of success; 2) the impact of stock performance on management's financing decisions; 3) the relationship of biotech hot and cold cycles to general market cycles; 4) the relationship between public and private markets; and 5) the principal determinants of biotech firm survival, including the effect of venture capital.