More than 100 biopharma executives and experts told Scrip their predictions for therapeutic area advances in the coming year. The recent commercial success of GLP-1s in diabetes and obesity and their potential in further disease areas fuelled excitement around the metabolic space. Expectations were also positive in neurology following the launch of Leqembi for Alzheimer’s disease in 2023, while the multiple opportunities to improve cancer treatment kept oncology top of the pile overall.

Jiangsu Vcare Pharmatech, Neurodawn Pharmaceutical and Shanghai Synvida Biotechnology stand out with funding rounds that each grossed roughly CNY200m ($28m) and above.

Evaluate’s fourth quarter data show that biopharma venture capital fundraising fell from $4.28bn in in Q3, but there was a rise in smaller deals and financial market conditions are poised for a turnaround.

Private Company Edition: TCGX raises $1bn for its second fund, Goldman Sachs’ first fund totals $650m and Panlin’s biopharma fund grows. Also, Apollo’s series C increases to $260m, Avistone closes a $140m series B, OnCusp raises a $100m series A and HI-Bio grabs $95m in series B cash.