Financing

The UK biotech will use the funds to advance the development of its first-in-class ERAP1 inhibitor, which could circumvent the limitations of poor tumor visibility and T cell exhaustion.

Korea Drug Development Fund CEO H. Samuel Muk talks to Scrip how the government agency has evolved to support the Korean biopharma industry’s R&D and business development activities, as well as what key new projects are underway.

Following two workforce cuts in 2022, Finch said it will cut its staff by 95%, halting a Phase III study of lead recurrent C. diff candidate CP101 and seeking to maximize shareholder value.

Recent financings, including the $150m launch of Pathalys and a planned $100m IPO for Mineralys, illustrate the reality of biopharma funding in 2023 – that having near-term clinical trial milestones are key to fundraising this year. Companies with dwindling cash are conserving the funds they have left.

In this week's podcast version of Five Must-Know Things: the best of J.P. Morgan; Novartis on its US-first commercial plan; Chugai CEO talks to Scrip on the Roche alliance and more; Scrip Asks what this year holds for pricing and reimbursement; and the global outlook for biopharma funding.

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.

Around the turn of the year, four Chinese biotechs including Kelun Biotech and BioRay ramped up funding with deals worth more than $100m, at a time when overall investment sentiment in the sector remains gloomy.

Recent antibody mega-deals are providing a rare bright spot for the embattled China biotech sector, amid sharply rising COVID-19 deaths in the country that indicate rebound and recovery could take longer than previously expected.

Now the pandemic-era biotech boom is over, biopharma companies and investors are both adjusting their financing strategies to survive and even thrive in the new environment.

Headwinds of political instability, violent conflict, inflation and recession accompany us into 2023. Scrip surveyed industry leaders on the impacts for biopharma.

Public Company Edition: Also, Johnson & Johnson’s consumer health spin-out Kenvue filed paperwork to get the ball rolling on an initial public offering. In addition, Geron raised $198m and Madrigal accessed more than $300m after positive trial readouts, but layoffs were revealed by Editas, Elevation, Nabriva and others.

Biopharma executives and investors descended on San Francisco again, but the numbers seemed fewer, the weather was volatile and the outlook for the sector remained uncertain.