包括:公司风险投资(CVC)和公司合伙关系;
关于合伙协议的预付款项和交易条款;
非传统投资者,包括个人、天使投资人、家族理财室、公司,甚至是对冲基金。
随着公司和投资者反映出强烈的公开市场情绪,A轮和早期融资以及夹层融资活动增加.
在前几轮中,跨界车的贡献越来越大,它们在A轮中的参与度达到了历史最高水平。
肿瘤和平台公司继续炙手可热,而中枢神经系统药物的重要性也在增长。
令人惊讶的是,针对孤儿或罕见疾病的资金减少,这或许表明投资者在疫情期间将投资活动转移到了其他地方。
2020年下半年,A轮融资略有持平,但后期和夹层融资仍在流动,尤其是COVID-19的创新方面。
投资者更愿意接受有潜力的市场,再次借助COVID-19以及数据、人工智能和机器学习趋势。
市场对COVID-19的疫苗方面进行了评估,但仍在评估对工具和诊断部门的影响。许多较大的合作伙伴可能正在寻求加强能力建设,新的方法继续吸引投资者的兴趣。
COVID-19让公众、市场和投资者重新思考制药供应链及其解决快速变化问题的能力。
制药供应链的早期中断,导致许多公司更加关注于建立更强弹性、以及评估多渠道交付方法。
细胞和基因疗法等创新和其他新技术的加速出现,推动企业寻找新的开发和制造方法。这些方法还可以缩小供应链范围,并需要新的解决方案来交付。
企业正在利用这些供应链和治疗趋势,这可能导致市场更加分散,但也更有弹性,更容易接受创新。
更多的整合也可能发生,同时仍在为创新者敞开大门。
在虚拟护理激增的推动下,融资金额创下历史新高。
A轮融资持平或略有下降,但总体资金有所上升,这表明投资者转向了面向市场的解决方案的阶段投资。
完全虚拟和混合平台都主导了该领域,而提供商和临床试验解决方案继续表现良好。
根据为期两年的趋势分析,A轮融资总体下降,但在某些领域(包括心脏病学和神经病学)的投资仍然强劲,并继续增长。
投资者倾向于关注后期和商业化的投资。
尽管面临这些挑战,考虑到进入该领域的总资金,与更具创新性和创新性的医疗设备公司(例如那些使用人工智能或机器学习的公司)的交易可能会在2021年出现反弹。
Corporate venture capital (CVC) and corporate partnerships
Up-front payments and deal terms on partnership deals
Non-traditional investors, including individuals, angels, family offices, corporates and even hedge funds
Increasing activity in Series A and early rounds, as well as mezzanine financing, as companies and investors map to strong public market sentiment.
Crossovers are increasingly contributing to earlier rounds, expanding their Series A participation to all-time highs.
Oncology and platform companies continue to be hot, while central nervous system drugs have grown in importance.
One surprise has been the decline in funding for orphan or rare diseases, perhaps signaling that investors diverted activity elsewhere during the pandemic.
Series A funding was a bit flat in the second half of 2020, but record levels of later-stage and mezzanine financing is still flowing in—especially for COVID-19 innovations.
There’s more investor receptivity to growth stories, once again riding COVID-19 tailwinds as well as data, AI and machine learning trends.
The market has valued the vaccine side of the COVID-19 wave but is still determining impacts on the tools and diagnostics segment. Many larger partners may be looking for increased capacity building, and novel approaches continue to attract investor interest.
Early disruption in supply chains for pharma led many to focus on building in more resiliency and redundancy, as well as evaluating multi-channel approaches to delivery.
The accelerating advent of innovations such as cell and gene therapies and other new modalities has pushed companies to find novel approaches to development and manufacturing. These approaches can also narrow supply chains and require new solutions for delivery.
companies are taking advantage of these supply chain and therapy trends, which may lead to a market that is more fragmented but also more resilient and receptive to innovation.
More consolidation may also occur, while still leaving the door open to newcomers.
Funding dollars hit an all-time high, boosted by the virtual care surge.
Series A funding was flat to slightly down, but overall dollars were up, signaling a shift in focus to market-ready solutions and later-stage, mezzanine-focused COVID-19 ventures.
Both fully virtual and hybrid platforms dominate the space, while provider and clinical trial solutions continue to perform well.
Based on a two-year trend, Series A funding declined overall, although investments in certain areas, including cardiology and neurology, remained strong and continue to increase.
Investors tended to focus on later-stage and commercialized investments.
Despite these challenges, dealing with more innovative and novel medical device companies—those using AI or machine learning, for example—could see a rebound in 2021 given the overall dollars going into the space.
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