Of the 2019 biotech IPOs on the major US exchanges, there were 24 companies focused on developing non-small molecule drugs, about the same number as those developing small molecule drugs. Here’s a list of the companies (by market cap at IPO) along with a short summary of the key concepts for each company’s main programs.

2019 Biotech IPOs
*International companies which previously IPO’d on foreign exchanges. Does not include Adaptive Biotechnologies, which I categorized under “diagnostics/research tools and services” along with 10x Genomics, Castle Biosciences, Centogene, Exagen, and Personalis.

2019 Biotech IPOs - Non-SM R&D Companies

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The total market valuation of all of these companies at the times of their IPOs was about $28B – nearly three times the combined value of all of the small molecule-focused companies which IPO’d in 2019. This is partly due to a number of these IPO’s which were really global follow-on offerings (e.g. Genmab, which was worth more than the combined value of all 25 SM-focused IPOs), as these companies first raised public capital on non-US exchanges. Excluding these 3 companies, the 2019 biologic-focused startups were valued in total at about $12.5B, comparable to their small molecule discovery counterparts.

If you’re looking at the table and confused why a particular company/modality appears in this list of what I call biologic drug-focused companies, read here.

Otherwise, enjoy! Explore drughunter.com for more.