After a ‘biotech winter’, it seems the first signs of spring has arrived for the industry. Biotech fundraising trends showed more positive signs in June, with funds raised by Chinese players rising 42% from a month ago to reach $554 million.
Chinese investors showed more support for young startups in May 2022 as four of them raised over RMB100 million each in early financing rounds, while late-stage drugmakers found fundraising more challenging than ever. Financing activity in May was also the weakest this year, with the least deals and lowest amount.
A drugmaker specializing in medicines for children raising nearly $15.7 million in April 2022 shows a shifting interest toward this area. Early-stage biotech companies also made up 18 of the 27 financing deals.
As China battles its worst COVID outbreak, investors have turned their attentions to RNA-based therapies again. But this time, companies are flogging their platform technologies rather than specific programs.
Cell therapy and gene therapy companies extended a trend from the second half of 2021 by making up 11 of the 21 financing deals in February. PharmaDJ expects this trend to continue throughout the year.