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E-Mail IMAGE: Estimated probability (Kaplan-Meier) of a company with IPO from 1997-2016 having at least one product approved by year after IPO for small molecules versus biologicals. view more Credit: Center for Integration of Science and Industry, Bentley University A large scale study from Bentley University of the biotechnology companies that completed Initial Public Offerings from 1997-2016 estimates that 78% of these companies are associated with products that reach phase 3 trials and 52% are associated with new product approvals. The article, titled Late-stage product development and approvals by biotechnology companies after IPO, 1997-2016, shows that these emerging, public biotechnology companies continue to have a role in initiating new product development, but are no longer distinctively focused on novel, biological products. ....