GentiBio closed a $157m series A venture capital round, while clinical trial innovator Reify Health raised a $220m series C and Neurelis secured $150m. Also, IPOs slowed in August, but Adagio and Eliem grossed $309.4m and $80m, respectively, and RNA firm Greenlight will go public in a $282m SPAC deal. 

2020 has kicked off with a major European biotech deal that will see the Italian conglomerate Angelini take over Switzerland's Arvelle which is on the verge of getting EU approval for an anti-epilepsy drug licensed from SK Bio that got the green light in the US two years ago.

Myovant's Orgovyx was just approved by the US FDA for prostate cancer and could be approved soon for two women's health indications. 

The development and commercialization of cell and gene therapies during a pandemic, with regulators and payers demanding more data on effect duration and safety, has resulted in headwinds. Added to manufacturing and clinical trial recruitment issues, investors’ patience has been strained.