Strong IPO enviromment, us an upswing in vate M&A prope ad a fourth st record year in healthcare enre itat(V) n 200 naim far e re with n unprecedented S17B in new venture funds dedicated to healthcare Healthcare company investment surged more than 50 from 019 to set a new gh a 55?8. y sector experienced eo investment is y. 03 set a highwater man of S15a+, the largest venturebacked healthcare quarter ever recorded Biopharma Seres A deals and dollars increased 5 scanty versus. Corporate venture activty was also up, participating n ore than onethird of all US Sees A deais, Dera, bigham investment set a record for both deals and dollars. helped by the fast pace of mezzanine financin.

There were 93 large crossover-tacked deals(LIPO"deal")closed in 2020, and 33(35%)have already completed Ipos For this group of deals, median time from mezzanine round o IPO was just three months rcorded th e tmeso5100mmeva-ound tian 019 and a% nc in med Seies A deal sirt Wile device Sers A investment was down, v rall inestment was up in 020, Neuro and n invasive monitoring(NM each near doubled 2019 device investment Iesting an disovery technoiog from ve ced o co mpanies took center stage during the COVID-19 pandemic. ersa investmen was, u era nv stment ollars nked across all three subsectors and more than doubled for R&D toots