TY - JOUR T1 - Private and Public “Cradle to Maturity” Financing Patterns of U.S. Biotech Ventures (1970–2001) JF - The Journal of Private Equity SP - 9 LP - 25 DO - 10.3905/jpe.2004.391047 VL - 7 IS - 2 AU - Irvin W. Morgan, Jr AU - Pier A. Abetti Y1 - 2004/02/29 UR - https://pm-research.com/content/7/2/9.abstract N2 - 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. ER -