Few in the biopharma industry entered 2024 expecting a swift recovery. Persistent obstacles, such as the Inflation Reduction Act, continue to create uncertainty, which is now compounded by the BIOSECURE Act, the US election, and many other factors.
Yet, there is progress, with some reservations. Our latest analysis of Evaluate’s data shows that:
- IPOs gained traction in the third quarter, and the outlook for year-end looks promising. Can we officially declare the IPO window open? Not quite yet.
- Venture funding brings a touch of optimism, with 2024’s total investment already surpassing 2023’s. It’s a modest benchmark, but still a step forward.
- M&A activity remains subdued. Only 22 deals closed in Q3 with a top five list that includes two deals under $1 billion.
As always, our quarterly round-up takes a closer look at the state of investment and dealmaking (or lack thereof) in the industry. Buckle up, it’s still a bit bumpy.
