As the equity markets continue to set records, Goodwin’s global life sciences capital markets team continues to be the go-to firm for IPOs and follow-on offerings. Despite the pandemic, the last two months in the first half of 2020 saw a breakneck pace of equity issuance. According to Renaissance Capital, healthcare made up two-thirds of the 39 second-quarter IPOs
In the first half of 2020, Goodwin’s life sciences team advised on a total of $3.72 billion capital raised in biotech IPOs, which includes both issuer and underwriter representation. A few of note for issuer side representation are Forma Therapeutics and Fusion Pharmaceuticals, while on the underwriter side, Goodwin was involved in Royalty Pharma’s $2.5 billion IPO, the largest biotech IPO this year. In the month of June alone, Goodwin’s team represented four biotech issuers and two underwriters in their IPOs.
Besides initial public offerings, in the first half of 2020, Goodwin’s life sciences capital markets team advised on six of the largest public follow-on offering for an aggregate of $4 billion, which includes the representation of Moderna, argenx, CRISPR and bluebird bio. In total, Goodwin’s life sciences capital Markets team advised on a total of $8.75 billion capital raised in follow-on activity.
In addition to IPOs and follow-on offering, Goodwin’s life sciences team has been busy advising clients on equity financings. In the first half of 2020, Goodwin has advised on $3 billion in financings globally. In the US, our life sciences team has advised 60+ clients on over $2.5 billion in financings. In the UK, less than a year since launching an office in Cambridge and onboarding several new lateral partners, the UK Life Sciences team has been busier than ever, actively advising clients on over $550 million financings during the first half of 2020. These included some of the largest UK funding rounds for Exscientia and NodThera.