Financing Available For Some, But Not All Biopharma Companies In 2023
Firms With No Near-Term Milestones Could Shutter
Investors, advisors and CEOs at the J.P. Morgan Healthcare Conference and Biotech Showcase were somewhat optimistic about fundraising this year, but noted certain companies may have to call it quits.
You may also be interested in...
Cash Runways Dry Up, Creating A ‘Complex’ Road Ahead For Biotech
More than half of emerging biotech companies have less than two years of cash to fund operations, according to EY’s Beyond Borders report.
Finance Watch: Kenvue, Acelyrin Launch Biggest Biopharma IPOs Of 2023
Public Company Edition: J&J’s consumer health spinout Kenvue grossed $3.8bn in its public market debut and Acelyrin raised $540m in an upsized IPO. Also, Seres accessed $250m in new debt for Vowst commercialization while follow-on offerings raised $325m for ImmunoGen and $240m for Morphic.
Finance Watch: Venture Capital Funders Raise Billions For Biotech Investments
Private Company Edition: Forbion closed two funds totaling €1.35bn ($1.5bn) and Glide Healthcare raised €600m ($657.5m) for its latest fund, joining recent venture capital raises by Lux Capital and Wellington Management, but in the first quarter biopharma VC company financings fell dramatically.