Biopharmaceutical investors and executives alike conceded during the recent BIO International Convention that the booming financial environment, which peaked in 2020 and 2021 with record levels of venture capital investment and initial public offerings, created too many new drug development start-ups and public companies. Many therapeutics firms shut down as investment in the sector slowed in 2022 and early 2023 – a trend that is likely to continue – but others have adjusted to market realities.
Biopharma Investors, Companies Learning To Adjust To Financial Market Realities
When Cycle Will Spin Out Of Downturn Is Anyone’s Guess
Raising money will be difficult for the foreseeable future, so every part of the ecosystem from start-ups to public companies to VC firms is figuring out how to survive until cash is easily accessible again.
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Private Company Edition: The latest group of drug developers to announce venture capital financings is remarkable for its geographic diversity, from Character Biosciences’ $93m series B round in the US to Augustine’s $85m series B in Belgium to a $29.2m series C for Aculys in Japan.
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Kyoto-based venture moves HQ to California to expand R&D and business outreach for its regulatory T-cell technology, as it raises around $46m in public and private funding.
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The Belgian firm banks nearly €77.7m to push its Charcot-Marie-Tooth to proof-of-concept.
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A new report from a domestic institute on South Korea’s biopharma M&A trends shows a pickup in activity, but that this remains relatively weak and small-scale. It calls for broader domestic government support to build expertise, drive innovation and globalization.
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Stakeholders are pleading for newly confirmed FDA Commissioner Martin Makary to stand up for the agency's high scientific standards and staff as he begins his term.
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Plus deals involving Relmada/Trigone, Alvotech/Xbrane, OPKO Health/Entera, iOncologi/TargImmune and more.
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With its exon 53-skipping candidate already showing promise in 24-week data, Wave now has 48-week data showing improvements in muscle health and functional outcomes.