Biomedtracker’s latest report on biopharmaceutical company fundraising shows a 25.1% decline in year-over-year dollars raised, from $17.5bn in the fourth quarter of 2022 to $13.1bn in Q4 of 2023. Follow-on public offerings (FOPOs) had a similar Q4 decline of 24.2% from $6.09bn to $4.61bn, while initial public offering dollars nearly doubled from $343m to $639m despite the number of global IPOs declining from eight in Q4 2022 to five in Q4 2023.
Finance Watch: Biopharma Public Offerings Fell In Q4, But Activity Is Booming In Q1
Biomedtracker Data Show Big Year-End Drop In 2024
Public Company Edition: Fourth quarter 2023 fundraising fell 25.1% from Q4 2022, including a 24.2% drop in follow-on dollars, but recent activity has been robust, including $300m and $350m offerings by 4DMT and Autolus. Also, BMS sold $13bn in notes to fund Karuna and RayzeBio deals.
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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.