NYCHBL Releases Third Annual New York City Healthcare Venture Capital Report

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NYCHBL Releases Third Annual New York City Healthcare Venture Capital Report

Finds 41% Growth in Number of Companies Financed and Dollars Invested in NYC in 2019 Capsule, Ro, Quartet Health Top the List of Digital Health Deals

 

New York, NY (February 5, 2020) – New York City Health Business Leaders (NYCHBL) today released the 2020 New York City Healthcare Venture Capital Report, an in-depth analysis that explores the key trends that are driving investment, interest and excitement in New York. The report features insights from leading entrepreneurs, investors and advisors, and includes data and content around new growth areas like digital health, life sciences, digital therapeutics and behavioral health.

For 2019, the analysis found that 117 health companies received $2.6 billion in funding, a 41% increase from 2018. We saw key exits like the $5.7 billion sale of Medidata to Dassault Systemès, and IPOs like Axsome Therapeutics and Progyny. The report also features:

  • Top 25 Digital Health Investments (Capsule, Ro, Quartet Health are top 3); Top 10 Life Sciences Investments (Nuvation Bio, Schrodinger and Zentalis are top 3) and the Most Active NYC investors (Alexandria Venture Investments, Deerfield Management and Primary Venture Partners top the list);
  • The NYC Digital Health 100, a first of its kind list of the most promising start-ups in NYC, categorized by sector;
  • A roundtable with key digital therapeutics executives including Bozidar Jovicevic, MD, MBA, VP, Global Head of Digital Therapeutics, Sanofi, where leaders discuss opportunities and challenges and how this emerging market will change clinical practice in the future;
  • An in-depth interview with James E. Flynn, Managing Partner, Deerfield Management, where he discusses their purchase of 345 Park Avenue South and his vision to create a transformative life sciences campus.

 

“In the ten years since I co-founded NYCHBL, we have seen a decade of incredible growth as NYC has become the epicenter of tech-driven healthcare as well as home to an emerging biotech industry,“ said Bunny Ellerin, President, NYC Health Business Leaders. “This report showcases what differentiates NYC such as its diversity of talent, proximity to leading academic medical centers and wealth of founders and funders. It looks ahead to a future in which NYC will continue to thrive as a center for healthcare innovation across all sectors.”

The report includes commentary from leading investors and entrepreneurs highlighting the growth of the NYC healthcare ecosystem:

“The number of tech-enabled and digital healthcare companies has exploded,” said Nancy Brown, General Partner, Oak HC/FT. “Five years ago, we had just one company in NYC. Now we have at least 6-7 teams with a presence: Galileo, Maven, Quartet, Unite Us to name a few.”

Carlo Rizzuto, PhD, Partner, Versant Ventures commented: “Versant is historically a West Coast firm. When we had the discussion about establishing an East Coast presence, we were attracted to New York because we saw so much untapped opportunity. There was a lot of high-quality academic science but virtually no biotech. As a company-building firm, we knew we could leverage the science and access the financial community.”

Sanofi sponsored the report and Cooley helped gather the data for this report.

 

About NYCHBL

New York City Health Business Leaders is a professional community of 3,000 senior executives who are leading, innovating and driving healthcare forward. It was founded in 2009 by Bunny Ellerin and Dr. Yin Ho. Together they have created a healthcare ecosystem in New York that spans sectors, bringing together the best minds to discuss important issues and spur innovation. It is clear that by connecting the right people – leaders, professionals, entrepreneurs, investors – we can ignite the right conversations that advance all sides of health. For more information visit www.nychbl.com or follow us @nycbhl.

 

Media contact:
Jen Newman
jnewmanny@gmail.com
tel: 917.587.9462