J.P. Morgan Day 3: First TCR Therapy On The Horizon, Asian Firms Make Their Mark
Daily notebook from the virtual J.P. Morgan Healthcare Conference: new immunotherapies coming and new updates from multiple Asian companies.
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Silicon Valley Bank data show a pullback in crossover financings but an increase in seed and series A venture capital rounds. In recent private company financings, CRO Novotech raised $760m. In public company financings, Eleusis will merge with a SPAC and the Bausch + Lomb IPO is on file with the SEC.
Private Company Edition: NVCA and Pitchbook data show pharma and biotech companies raised $37.8bn in venture capital in 2021, up 41% from the record $26.8bn total in 2020. Recent mega-rounds include $190m for Maze and $200m for Alumis, and Sound Bioventures raised a €110m fund.
The power dynamics for deal-making in 2022 may shift to smaller companies emboldened by funds from venture financing and IPOs. While the spotlight will continue to be on ADCs and cell and gene therapies, vaccines and COVID-19 treatments will predictably be hot areas for licensing, Syneos Health predicts.