Leaders from three companies that have managed to achieve successful turnarounds offered some advice and encouragement to biotechs weathering the current financial downturn at the recent Jefferies Healthcare conference in London.

As signaled when Pfizer acquired Biohaven’s Nurtec and CGRP assets, Biohaven will continue under a modified name, with a focus on epilepsy, obsessive compulsive disorder and spinal muscular atrophy.

During Q2, biopharmas brought in an aggregate $12.5bn in financing and device company fundraising totaled $3.7bn; while in vitro diagnostic firms and research tools players raised $720m.

ARCH closed a $3bn VC fund to end the month of June while in the same week six public biopharma firms said they are cutting jobs. Even so, some publicly traded companies have been able to launch sizeable offerings, including a $450m note sale by Cytokinetics and Xenon’s $250m follow-on.