European biotechnology firms engaged in the discovery and development of new therapeutics collectively raised $1.9 billion in equity funding during the second quarter (Q2) of the year. Despite the ongoing lack of an IPO market – particularly for European firms – the total is roughly comparable with historic norms, absent the pandemic-related boom years of 2020 and 2021. It represents the fourth highest total raised during the last six years.

Vesalius Biocapital Partners Sàrl has called a first close on its fourth fund at €95 million (US$103 million) and now is targeting a total of €150 million, with new investors to be accepted on a "rolling closing" basis until the final close in 2024.

A collaboration between Aegis Ventures LLC and Northwell Holdings invested $12 million to launch New York-based Optain Inc., an artificial intelligence company created to enable early identification and disease prevention through retinal imaging. Retinal imaging is well known for identifying eye diseases including diabetic retinopathy, age-related macular degermation and glaucoma, but it can also provide insight into cardiovascular and neurological conditions.

A precancerous condition caused by the human papillomavirus (HPV) affects up to 300,000 American women who are diagnosed each year, and yet there are no treatments, just preventive vaccines introduced in 2006 – targeted to younger generations prior to the first sexual encounter. That leaves a large proportion of the female population stuck with a “wait-and-see” approach that involves continuous monitoring of their HPV infection through pap smears to detect cellular changes that could lead to cervical cancer. South San Francisco-based Antiva Biosciences Inc. is seeking to find a better response to this condition known as high-grade cervical intraepithelial neoplasia (CIN2,3) with its lead topical therapeutic, ABI-2280, a prodrug of an acyclic nucleoside phosphonate that is currently in phase I trials.

Raising $15.6 billion through 276 transactions, the biopharma industry has experienced a respectable first quarter (Q1) in terms of financings, with a 14% jump over last year and higher amounts than the first quarters of many pre-pandemic years. The financings compare with $13.7 billion raised through 253 transactions in 2022’s Q1.

Raising $15.6 billion through 276 transactions, the biopharma industry has experienced a respectable first quarter (Q1) in terms of financings, with a 14% jump over last year and higher amounts than the first quarters of many pre-pandemic years. The financings compare with $13.7 billion raised through 253 transactions in 2022’s Q1. Private money remains the strongest source of capital in 2023, with venture capital bringing nearly 45% to the table and private investors in public companies bringing another 20%.