In biotech (by which I mean therapeutics), out of ~150 "major"* VC investments from 1/2018 to 7/2018, 14% of deals have been over $100M. Many of these have bee

In biotech (by which I mean therapeutics), out of ~150 "major"* VC investments from 1/2018 to 7/2018, 14% of deals have been over $100M. Many of these have been Series A deals [0]. Many of these rounds are tranched (ie you only get a certain amount upfront, then get the rest if you hit milestones), but I think I saw data suggesting only 30-40% were tranched. I think this phenomenon is largely due to 1) more money going into biotech VC but 2) very little increase in the number of good startups. Many startups are created in house by 5-10 VCs (though this is changing, especially with increasing number of well funded Chinese startups), so there's limited bandwidth. Therapeutics is so different from any other type of startup that pretty much all the incubators / educational materials don't apply, and the only ppl who know how to start startups are those who've developed drugs at big companies or have started successful companies before * Announced Series A through later deals, and some large seed deals ($5m+) [0] source is a website where i've been tracking major biotech VC investments. i'm a hobbyist programmer and its on a free heroku plan, and i'm in the early stages of turning what was a personal project into a product so expect bugs and not-ideal performance. but deal coverage is comparable to other biotech databases. https://bio-vc-tracker.herokuapp.com/ https://bio-vc-tracker.herokuapp.com/