Hot biomedical concepts: Software, mobile communications, ophthalmology,antibiotics,epilepsy,surgery,cancer, and publishing.
On Thursday March 9 The Wall Street Journal published an excellent review of the Top 50 start-ups and the money raised.The leaders were technology companies with a WEB focus. With valuations for Facebook, Group-On and Twitter soaring there is some debate as to whether we are in a new bubble. The Top 50 list includes companies that have received financing within three years and have a valuation less than $1B.US venture firms raised 119 new funds totaling $11.6B last year down from 215 funds and $40B in 2007.
In the #1 spot last year was Pacific Biosciences (PACB $14.18) that has since gone public and now has a market cap of $534M; the 52 week high was $17.47. Complete Genomics(GNOM $7.50) also went public last year and is currently trading at a market cap of $194M with a 26 week high near $9.
The Top 50 Venture-Backed Companies – WSJ.com
Here is a quick review of nine healthcare companies on the list and the money raised:
1.) Castlight Health $81M:WEB based software that gives consumers views of their medical benefits.
18.) Patient Safe Solutions $71.5M: A mobile system for nurses that uses an iPod touch system.
19.) Glaukos $117.6M: A new medical device treatment for open-angle glaucoma.
21.) Archaogen $103M: Antibiotics for multi-drug resistance bacterial infections.
22.) NeuroPace $130.3M: Implantable devices to monitor and stop epileptic seizures.
30.) EndoGastric Solutions$128.7M: Incisionless surgery for gastrointestinal diseases.
32.) Everyday Health $77.2M: On-line publisher with more than 25 health-related sites partnered with AOL.
39.) Veracyte $49M: Genomic molecular tests for diagnosing cancers.
41.) OncoMed Pharmaceuticals $168M: Therapies that target cancer causing stem cells.