Financing

Low on cash when Pfizer handed back rights to its hemophilia A gene therapy, Sangamo is talking to partners for its Fabry disease gene therapy to fund its two lead programs through proof-of-concept.

More than 30 biopharma executives, investors and industry experts shared their views on the environment for funding and deal-making in the year to come. With a patent cliff looming over big pharma at the same time as technology opens manifold possibilities for new approaches to drug discovery and development, the general view is that 2025 will be a busy year for partnering, with a trend towards earlier-stage deals and milestone-dependent payments.

AEON Biopharma says it is planning for a biosimilar biological product development type 2 meeting in 2025 for its proposed biosimilar to the world-famous Botox brand, after raising much-needed capital to keep it afloat in 2025.

Private Company Edition: Biopharma firms revealed new VC funding to highlight progress ahead of the J.P. Morgan Healthcare Conference, including Aviceda’s $207.5m series C round, Tenvie’s $200m launch, a $115m series B for Aspect Biosystems and a €90m ($93.4m) series A for Orbis.

Public Company Edition: Drug developers usually lead up to the J.P. Morgan Healthcare Conference by announcing new financings and partnerships, but multiple companies revealed strategic shifts and layoffs ahead of the industry’s annual kickoff meeting.

Restructuring Edition: Vincerx strategic review ends with a merger, Viracta halts last clinical trial and assesses options, and Achilles completed a strategic review by selling assets to AstraZeneca. Also, Synaptogenix explores opportunities, while GenSight warns its cash is running out.

While medtechs still find the investment environment difficult, good companies will continue to get funded. So says Taylor Wessing partner Ross McNaughton, adding that UK life sciences innovators should in the longer-term benefit from more funds going into VC and PE under The Mansion House Compact.

Six $1bn+ alliances were penned in November, and three exceeded $2bn.

Private Company Edition: Ottimo raised $140m-plus in series A venture capital and Angitia garnered $120m in series C cash in the latest mega-rounds, while Noema and Borealis extended prior financings. Also, VC investors XGEN and Dimension raised $690m across two new funds.

An interactive look at medtech and diagnostics deals made during November 2024. Data courtesy of Biomedtracker.