Genentech raised $1.94 billion in 1999, the largest biotech IPO at that time.
Moderna set a record with a $621 million IPO in 2018.
Sana Biotechnology raised $588 million, the largest IPO for a preclinical biotech in 2021.
Kenvue's IPO in 2023 netted $4.24 billion, the largest since 2018.
In 2021, over 120 biotech companies went public, raising more than $20 billion.
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