We began 2024 on solid footing, taking a tentative step forward with promising deal-making and financial prospects in Q1. Initially, M&A and IPOs were moving ahead, offering exit paths for investors. However, Q2 reminded us that it’s not all smooth going, with fairly significant drops in the number and value of deals taking place, and just three companies entering the public markets.
On a brighter note, private funding secured over $8 billion across 143 companies this quarter. It’s not the peak of the pandemic frenzy, but it’s a solid stride away from the lows that followed, giving biotechs a much-needed chance to extend their financial runway.
In this eBook, we explore the ups and downs of what is clearly still a very bumpy recovery. As we head into the second half of the year, will we be able to take more steps forward?
HIGHLIGHTS:
- Biopharma remains on unstable ground
- Both M&A volume and valuations declined
- VC investment is on an undeniable upswing
- Biotechs struggled to raise cash through flotations
