As the biotech markets warm up, signs point to crossover rounds returning
Crossover rounds appear to be trickling back into biotech.
During the boom times of 2020 and 2021, there was a flood of money from public-market investors to startups that were making their last private fundraise before an IPO. And when the market cratered, those investors fled.
Now there are signs that those crossover rounds — named because they set up a private company to cross over into the public market — are starting to return.
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