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BC Tech Companies Raise Record Financing in 2019 (Well Over $2 Billion), 10 Largest Deals Bring in Over $1.4 Billion
Friday, December 27, 2019
Photo Credit: Clio (who closed the largest "Financing Deal of the Year" for BC Tech Companies in 2019 at $330 Million CDN)
Vancouver, BC, December 27, 2019--(T-Net)--2019 was another monster year for financing activity in the BC tech industry with well over $2 billion in confirmed financing deals closed by local tech companies as reported on T-Net alone over the past year (including both private equity investments and a few public financings).
This may well go down as one of the largest years ever in terms of financing activity, particularly the number of large $20 million plus financings closed, which is a good sign in terms of the evolution of our local industry and ecosystem and the growing sophistication of experienced local entrepreneurs and business founders and operators.
T-Net reported on close to 200 equity financings in 2019, with the top 10 largest bringing in a record $1.4 billion last year (well up from the previous year total of $840 million)
As in prior years, a number of tech companies did not include the actual amount of their financing raised (so are not included in these totals), and we are certain there are also (many) other BC tech related companies that may have closed new financing rounds in fiscal 2019 that we are just not aware of (or which have not been reported or submitted to us), so the total number of funding deals, and the amounts raised in the BC tech industry may actually be much higher than this.
Fiscal 2019 was among the strongest financing years we've seen in recent BC tech industry history (following very strong financing environments in 2016, 2017 and 2018).
Below is our (quick and dirty) version of the "unofficial" list of the top 10 largest financings for BC tech companies that we reported on in fiscal 2019.
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1. DEAL OF THE YEAR: Clio Closes Massive $330 Million Series-D Financing, one of the Largest in BC Tech Industry History
Co-founders Jack Newton, Chief Executive Officer (left), and Rian Gauvreau, Chief People Officer (right) Burnaby, BC, September 4, 2019--Clio, a leader in cloud-based legal technology, announced it has raised $330 Million (US$250 million) in Series-D funding from TCV and JMI Equity. |
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2. Zymeworks Announces Closing of US $200 Million Financing (Public Offering)
Ali Tehrani, Ali Tehrani, President & Chief Executive Officer, Zymeworks (Credit: UBC Microbiology)
Vancouver, BC, June 28, 2019--Zymeworks Inc. (NYSE/TSX: ZYME), a Vancouver-based clinical stage biopharmaceutical company developing multifunctional biotherapeutics, announced this week the closing of its previously announced underwritten public offering.
The common shares were offered at a price of US$18.00 per common share and the pre-funded warrants were offered at a price of US$17.9999 per pre-funded warrant, for aggregate gross proceeds to the Company of approximately US$201.3 million ($264 million CDN).
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3. Victoria-based BioPharm Company Aurinia Closes $250 Million Public Offering of Common Shares 
Peter Greenleaf, Chief Executive Officer, Director |
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Victoria, BC, December 18, 2019--Aurinia Pharmaceuticals Inc.(NASDAQ:AUPH) (TSX:AUP), a late-stage clinical biopharmaceutical company focused on advancing voclosporin in multiple indications, announced the closing of its previously announced underwritten public offering of 12,782,439 common shares, including 1,667,274 common shares pursuant to the full exercise of the underwriters' option to purchase additional common shares. ------------------------------------------------------------------------------------------- 
Nick Glover, PhD, President and Chief Executive Officer Vancouver, BC, November 26, 2019--Sierra Oncology, Inc. (Nasdaq: SRRA), a late-stage drug development company focused on the development and commercialization of momelotinib, a JAK1, JAK2 & ACVR1 inhibitor with a potentially differentiated therapeutic profile for the treatment of myelofibrosis, announced that it has closed its underwritten public offering, with gross proceeds of $103 million. |
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Editor's Note: If we have missed anyone in this list, please email us at technews@bctechnology.com and we will update.
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