In addition to these two biofuel companies, several other biotechs filed to add themselves to the IPO queue in the quarter including:
- Complete Genomics (www.completegenomics.com), has already sequenced more than 200 complete human genomes since the beginning of the year, according to its filing.
- Horizon Pharma (www.horizonpharma.com), has a product on the market in Europe. Lodotra is a low-dose formulation of prednisone, for the treatment of rheumatoid arthritis.
- Aegerion Pharmaceuticals (www.aegerion.com) is focused on the development and commercialization of pharmaceuticals to treat cardiovascular and metabolic diseases.
- Cutanea Life Sciences (www.cutanealife.com) is a development-stage specialty pharmaceutical company whose mission is to strategically in-license novel, mid-stage candidates to treat diseased and aging skin conditions.
- Endocyte (www.endocyte.com) is developing targeted therapies for the treatment of cancer and other serious diseases.
- Pacific Biosciences (www.pacificbiosciences.com) has developed a single molecule, real-time technology that enables analysis of biomolecules with single-molecule resolution.
Public Company Financings Soft
Analysis in the Burrill Report shows that, apart from debt financings, all other financing vehicles were down a collective 50%, compared with the second quarter of 2010.
Follow-on financing and IPOs were down quarter-over-quarter; however, padding the data was the $7.2 billion raised in debt financing, bringing the total raised in the third quarter to $9.5 billion.
Venture capital financing continued to flow to U.S. biotech companies with $1.3 billion raised from about 90 deals announced in the third quarter. The U.S. biotech industry is on track to raise over $20 billion by the end of the year.