As Stephen Rosen, head of the corporate practice in London at law firm Cooley observed, “We start 2022 in the rare position of the sector never having as high a profile amongst investors [as] it does today. There are more investors looking to invest in the biotech sector, and as we have seen larger funds raised over the last few years, so the ability to deploy significant funds, particularly with the tranched funding that is a frequent theme for companies in the sector, means that interest and therefore M&A opportunities are likely to continue.”
Nevertheless, the bullish atmosphere that surrounded biotech stocks in 2020 and the first part of 2021 turned in September 2021, and the NASDAQ Biotechnology Index has been on a mostly downward path since then
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