SEATTLE--(BUSINESS WIRE)--The Washington Biotechnology & Biomedical Association (WBBA), the state’s life science trade association, reports that more than 50 Washington life science transactions this year to date have surpassed $1 billion. The financial milestone is $275 million more than the sum generated by 73 transactions in the state’s life science industry in 2013.
Notable life science transactions include the IPOs of Immune Design ($60 million), Alder Biopharmaceuticals ($80 million), BioLife Solutions ($15.4 million), and Acucela ($162 million). Alpine BioSciences was acquired by Oncothyreon for $27 million and Juno Therapeutics secured Series B investments of $134 million, bringing their total raise to $310 million since 2013.
“It is a testament to the phenomenal innovation that our members are bringing to the healthcare marketplace,” stated Chris Rivera, President and CEO of the WBBA. “The rest of the world’s life science community realizes that Washington is a global leader in life sciences. These may be the two most active years in the state, in regard to drawing capital and partners, in recent memory.”
In addition to these transactions, Washington-based company H-source becomes the 15th company to receive an investment from the Washington Medical Technology Angel Network (WINGS). The WINGS screening committee has volunteered thousands of hours to review 210 deals from an impressive array of medical technology opportunities. From those 210 deals, 54 companies completed the rigorous screening process and were selected to present at 18 WINGS Investor Meetings.
Collectively, WINGS angel investors are responsible for the infusion of more than $9.2 million of early-stage capital into these fifteen companies, almost 20% of the $49.4 million raised in total by these life science companies during the past four years.
About the WBBA
The Washington Biotechnology & Biomedical Association (WBBA) has over 650 member organizations and is an independent, non-profit 501(c) (6) trade association serving the life sciences industry in the state of Washington. It is completely resourced and supported by its members, including organizations engaged in, or supportive of, research, development and commercialization of life science innovation.
The WBBA’s Mission “To support and help to grow Washington State's life science ecosystem” drives its core strategic focus on:
- Commercialization – mentoring start-up life science companies that eventually raise capital, commercialize IP and employ people
- Access to capital – securing not just financial capital, but also intellectual and human capital is a top priority for us on behalf of our members
- Human Capital – initiatives focused on the recruitment, retention and the development of the talent needed to grow our life science community
- Public Policy – we advocate for, and increase the awareness about, our life science sector to our local, state and federal representatives
- Purchasing Power – our members save money by purchasing goods and services from our 18 purchasing partners