Investment in health from venture capital has been boosted by the coronavirus pandemic. The financing of the venture capital has reached $93.8 million (€80.2 million) in investment in health startups in Catalonia for the first time and with three months to go until 2020.
Venture capital has been the only way of financing that has avoided the impact of the COVID-19 pandemic and has increased its investment with respect to 2019, according to the BioRegion Report 2020 – Challenges ahead of Biocat and CataloniaBio&HealthTech.
If you want to find why COVID-19 encouraged investments in health startups, and how much funds the Spanish companies raised from venture capital, download for free the Born2Invest mobile app. Our companion app brings you the latest financial headlines for you to stay on top of everything that matters to you.
Spanish companies in the healthcare sector raised a huge amount from venture capital
Healthcare startups in Catalonia have maintained venture capital investment as their main source of funding. Of the $140 million (€120 million) raised to date by Catalan healthcare companies, $93.8 million (€80.2 million) come from venture capital, more than half of the total. In addition, the amount coming from this financing channel was $64.1 million (€54.8 million) in 2019.
Venture capital has increased its investment in health startups in Catalonia and has exceeded the highest figure to date, $81.8 million (€69.9 million) in 2016. During that same year, a record number of operations with venture capital participation were recorded, 29 movements, and it continues to be higher than the operations recorded so far this year, 25 movements.
Venture capital has gone from investing $64.1 million (€54.8 million) in health in 2019 to $93.8 million (€80.2 million) in 2020
For its part, the amount from public aid has risen to $17 million (€14.6 million) to date. Although there are still three months to go until 2020, the figure was $28.9 million (€24.7 million) in 2019 and the highest figure was recorded in 2017, when investment from subsidies was $40 million (€34.2 million).
The stock market has financed the health startups in Catalonia with $23.4 million (€20 million) during 2020, $5.85 million (€5 million) less than in 2019. In fact, the record budget for this funding channel was last year, with $28.8 million (€24.6 million). Finally, the crowd equity has invested $5.97 million (€5.1 million) in the Catalan health startups.
In 2019, the disbursement from this funding channel amounted to $9 million (€7.7 million).
The most important operations were those of Ona Therapeutics and Oryzon
The operations with the largest amount in 2020 were those of Ona Therapeutics, which attracted $35.1 million (€30 million), and Oryzon, which obtained $23.4 million (€20 million), in biotechnology.
Accure Therapeutics, Oxolife and Ability Pharma also obtained financing of $8.9 million (€7.6 million), $5.85 million (€5 million) and $5.85 million (€5 million), respectively. Finally, Neos Surgery was responsible for the highest investment in medtech, of five million euros, with the entry of Avançsa and Jiadel Medical. For its part, Qida, which specializes in digital health, obtained $4.2 million (€3.6 million) from Creas Impacto.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in PlantaDoce, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Invesco: Factor Investing Minimizes ESG Losses
The quantitative factor model is highly appreciated by investors. 66% of investors already consider this approach useful for implementing their...
Desafío Latam Raises US$ 660,000 to Enter Mexico
In its eight years of operation, Desafío Latam exhibits sustained growth figures and metrics that generate impact in the booming...
Dock Financial Acquires a Stake in Compeon – and Wants to Sell to Its Customers
According to Dock Financial and Compeon, the joint offering has already been tested in a pilot phase and will be...
Cardano (ADA) After the Vasil Upgrade – What Has Changed
Vasil for ADA will provide further improvements to the ecosystem this Tuesday (September 27th). That is because, as planned, it...
Corn Demand Needs to Hold to Keep Lower Ending Stocks Estimates in Play
Corn closed lower on Friday and near unchanged for the week as the US Dollar moved sharply higher and as...
Business2 weeks ago
The TopRanked.io Weekly Digest: What’s Hot in Affiliate Marketing [Week 37]
Business5 days ago
The TopRanked.io Weekly Digest: What’s Hot in Affiliate Marketing [Week 38]
Featured2 weeks ago
Fintech Company Yokoy Has Been Chosen as the Startup of the Year
Featured2 weeks ago
Algorand Partners with Bocconi to Establish Algorand Fintech Lab