Financing

TechBio stands at a critical inflection point, where computational innovation meets the reality of biopharma. Industry leaders have begun to cut through the hype and identify where sustainable value truly lies in this rapidly evolving landscape.

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.

Public Company Edition: Cargo suspended development and cut 90% of its workforce to focus on strategic alternatives, while Pyxis and Kiromic laid off or furloughed employees. Also, Pfizer sold its remaining Haleon shares for $3.3bn, Galderma sold $1bn in bonds and other financings.

Three $1bn+ alliances were penned in February, and one exceeded $2bn.

Parking and security at the FDA’s White Oak headquarters were strained from the influx of employees who had to report to work in person on 17 March.

Private Company Edition: There have been five $100m-plus VC rounds so far this month, up from three in all of February. Flagship unveiled Lila Sciences with $200m, while Curevo and Insilico raised $110m in series B and E rounds, respectively. Also, Arbor Biotech garnered $73.9m.

Centralized decisions and cost savings are targeted in the UK government’s plan to combine much of NHS England with the Department of Health and Social Care. The action will likely divert resources away from health ministry efforts to launch the 10-Year Care Plan, but how else will medtechs be impacted?

An interactive look at pharma, medtech and diagnostics deals made during February 2025. Data courtesy of Biomedtracker.

Restructuring Edition: Biopharma companies used fourth-quarter updates to reveal job and program cuts to conserve cash, including Sutro, Agenus, Coherus, Inozyme and Atea. Also, Vincerx’s reverse merger was terminated and Vaccinex, Oncternal, Syros plan to voluntarily delist.

With British Science Week upon us, how are UK life science firms faring, what’s the outlook for the future, and how can the environment be improved to better foster innovation – and make it pay?