Value-added medicines firm Hyloris has raised €15m from new and existing investors through a private equity offering of nearly one million new shares.

Hyloris expects to expand its portfolio to around 30 candidates by 2024, bolstered by €50m in cash and cash equivalents as of the end of 2021.

SVB health care advisor Jonathan Norris anticipates more consolidation in devices ahead with many mid-cap public companies looking to acquire innovative technologies to grow, and pushing the “big guys to have to figure out how to move faster.”

Following two record-breaking years for biotech fundraising, stock valuations are heading downwards. Biopharma executives and industry experts surveyed by Scrip anticipate big pharma executing more deals and acquisitions in 2022.