Which venture capital firm’s healthcare investment picks secured the most IPOs?

NASDAQBiotechnology and healthcare companies have been going public at a good clip this year, at a rate that overshadows the past few years. But initial public offerings are not what they used to be. Although they used to mark an exit for a company, these days they are simply another path to funding with its own set of risks and rewards. A report by CB Insights offers a view of healthcare investing trends. It said venture investor MPM Capital has had more healthcare companies in its portfolio go public than any other venture investor in the nine months through September.

The report also pointed out that healthcare VC fund Versant Ventures and venture fund NEA topped the list of most active investors in the healthcare sector.

Here’s a look at how MPM Capital’s portfolio companies performed.

I won’t get into Aratana Therapeutics (Nasdaq: PETX) because the biopharmaceutical company develops treatments for animals.


Acceleron Pharma: (Nasdaq: XLRN) raised $96.7 million after it priced at the high end of its share price range. The company develops treatments based on Transforming Growth Factor Beta proteins that regulate growth and repair of tissues. It has three therapeutics in Phase 2 development to treat cancer and orphan diseases. Among them are therapeutics it’s developing with Celgene to treat anemia and complications arising from b-thalassemia and Myelodysplastic syndrome.

Conatus Pharmaceuticals: (Nasdaq: CNAT) The San Diego biotech, which was founded in 2005 to develop treatments for chronic liver disease, raised $66 million after pricing at the midpoint of its $10 to $12 range. It acquired its lead compound emricasan from Pfizer in 2010 after the big pharma company halted development of the drug to prevent fibrosis and inflammation in 2008, according to Xconomy.

Epizyme: (Nadaq: EPZM) The biotechnology company developing innovative treatments for cancer priced at the high end of its IPO — $15 per share — and raised more than $76 million. In the first day of trading, its share price rose 50 percent. The lead drug is in Phase 1 development and is designed to treat mixed lineage leukemia. Celgene has the rights to the drug outside the U.S., according to Fierce Biotech.

KaloBios Pharmaceuticals: (Nasdaq: KBIO) Since its debut on the Nasdaq, the biopharmaceutical company’s performance has been a bit tumultuous. After initially pricing at the midpoint of its range of $12 to $14 per share, it revised its share price to $8. Since January, the share price has fallen by 48 percent. It is developing a group of antibodies for people with severe respiratory diseases, such as cystic fibrosis and asthma, and for cancer patients. 

Portola Pharmaceuticals: (Nasdaq: PTLA) raised $122 million to advance its cardiovascular drugs to treat thrombosis after it priced at the midpoint of its $13 to $16 price per share range. Its lead drug is in Phase 3 development.

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