1、Healthcare Investments and ExitsQ1 2023 UpdateBiopharma|Healthtech|Dx/Tools|DeviceHEALTHCARE INVESTMENTS AND EXITS|Q1 2023 UPDATE2Contents3Executive summary4Healthcare market highlights5Healthcare fundraising and investments14Authors15GlossaryHEALTHCARE INVESTMENTS AND EXITS|Q1 2023 UPDATE3Executive

2、 summaryAfter a whirlwind two months at SVB,were thrilled to continue focusing on what we do best:serving our clients.Yes,some things have changed in the last few weeks.SVB is now a division of First Citizens Bank,a move that strengthens our ability to deliver value to the communities we serve.What

3、hasnt changedis our steadfast commitment to the innovation economy.We continue to deliver specialized lending and financial solutions,coupled with premium client service,for innovators redefining the future as we have for 40 years.Its what we do,and at our core,its who we are.As part of our commitme

4、nt,we are pleased to bring you the Healthcare Investments and Exits Q1 2023 Update,a comprehensive analysis of the trends,opportunities and challenges in todays healthcare innovation market.Theres no sugar-coating it.The past year has been difficult for stakeholders across the innovation economy.Tou

5、gh market conditions including elevated inflation,rising interest rates,geopolitical risk and falling consumer sentiment have created uncertainty and led to a general pullback in investment(see page 8)and growth plans.Healthcare and life science companies have faced these challenges while grappling

6、with unique hurdles of their own.For example,a heightened demand for clinical milestones(highlighted on page 9)and difficulty selling devices into hospitals(page 13).Despite these challenges,there are reasons for optimism.Downturns are a great time for promising companies to focus on core products,a