Colorado Bioscience Companies Raised $1 Billion in 2018

DENVER–(BUSINESS WIRE)–Colorado’s life science sector raised $1 billion in 2018, entering a
second year of fundraising exceeding the $1 billion mark. In 2017,
Colorado bioscience companies raised a record $1.2 billion.

Notable deals and raises in 2018 included:

  • Array BioPharma granted exclusive global rights to one of its drugs
    for $129 million with a Singapore-based company, ASLAN pharmaceuticals.
  • SomaLogic closed a $200 million funding round, led by a Chinese
    company, iCarbonX.

The funds from firms in Singapore and China follows a trend of increased
international investment in U.S. life science companies, with Chinese
companies investing $13 billion in 2018.

Additionally, the University of Colorado Anschutz Campus reported a $120
million gift from the Anschutz Foundation in August. The funds will
support activities critical to bioscience and healthcare growth in
Colorado, including faculty recruitment and technology transfer.

Jennifer Jones Paton, President CEO of Colorado BioScience
Association, says:

“We’re proud of our sector’s continued success with another year of
financings totaling $1 billion or more. Colorado BioScience Association
works actively to accelerate investment in our state’s bioscience
companies, especially since our percentage of funding per capita lags
behind bioscience clusters in California and Massachusetts. In 2019, we
plan to work closely with our public and private partners to increase
our companies’ access to capital.”

Advanced Industries Grants provide another key source of income for
start-up and mid-sized companies as they seek to prove out concepts and
move into commercialization. Since inception, this state-funded program
supporting the bioscience sector in Colorado has awarded more than $52
million in grants, and continues to make an economic impact in the
state, creating:

  • 70 new companies
  • 780 direct jobs
  • Over $521 million in follow-on grants and investments

Colorado’s more than 720 life science organizations range from those
moving from early-stage research and development, through clinical
trials and into full-fledged commercialization. Those companies are
responsible for close to 600 commercial products developed in Colorado.

Connect with CBSA: Twitter @COBioscience, Facebook
and LinkedIn

About the Colorado BioScience Association

Colorado BioScience Association champions life science. We serve as the
hub of Colorado’s thriving bioscience sector by connecting innovators to
funding, infrastructure, research and talent. From promising young
companies to established corporations and institutions, we provide
opportunities for networking, education and professional development. We
grow the bioscience workforce and lead business expansion policies to
advance the industry in our state. CBSA represents more than 350 member
organizations, including biotechnology, pharmaceutical, medical device,
diagnostic, ag bio and mobile digital health companies, research and
academic institutions and service providers. Learn more about us at http://www.cobioscience.com.

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