Despite the challenging economic climate, the life science industry has witnessed a total of seven significant IPOs in 2023. However, when compared to previous years, it is clear that there is still a drought in IPO activity within the industry. In 2022, there were only 47 biotech IPOs, raising approximately $4 billion. This marks a significant decrease from 2021, which saw 152 offerings raising over $25 billion.
According to Chris Dokomajilar, a biotech analyst and CEO of DealForma Database, this may be the lowest point for biopharma IPOs. He predicts that with the recent slowdown in interest rate hikes, the industry could experience a positive change in the second half of the year, leading to an increase in IPOs.
Here are some of the notable IPOs that have taken place in biopharma and biotech so far in 2023:
Intensity Therapeutics
IPO date: June 30
IPO share