A big valuation at float is no guarantee of ongoing investor support, as a look at the sector’s biggest IPOs reveals.
Only seven drug developers managed to float on Western exchanges in the third quarter, and new issues in October have struggled, with Biontech the latest example.
The latest venture capital numbers suggest that 2019 will see a healthy amount raised, but the falling number of rounds could be a worry.
The biotech financing scene in Europe continues to be dwarfed by the US, but on some measures the region is on an even footing.
As J&J tears up a licensing deal with Alligator, CD40 agonism might join the likes of Ox40 and IDO as an immuno-oncology approach that has failed to deliver.
The second quarter saw start-ups raise the smallest venture capital haul in two years, as the number of mega rounds declined.
Venture funding drops again, but there’s no need to panic yet.
Sanofi has followed a 2015 deal with an €80m stake, joining Lilly and Pfizer as an investor in Biontech.
The two companies disagree on the commercial potential of an mRNA flu vaccine, and Biontech just got Pfizer’s buy-in.