Trends in Terms of U.S. Life Science Venture Financings
(First Half 2012)
Survey Introduction and Background
For the past ten years, Fenwick & West has published a
quarterly survey of trends in the valuations and terms of venture
financings in Silicon Valley. A copy of the most recent version of
that survey is available
here.
In 2011, we began publishing a separate survey of
biopharmaceutical and medical device companies ("life
science") companies. We believe this separate survey focusing
on life science companies better highlights issues and trends that
are affecting the life science industry differently than other
industries.
This survey reflects our analysis of the terms of venture
financings for 186 life science companies headquartered in the
United States that reported raising money during the first half of
2012. The results are summarized below.
