Amid a world that has been brought to its knees by the COVID-19 pandemic, the biopharma industry has learned how to quickly adapt under these extreme circumstances. Not only has it rapidly brought to bear huge research efforts to uncover potential therapeutics and vaccines to counter the circulating coronavirus, but also it has learned how to conduct its business activities in a completely different way. For example, the pandemic hasn't stopped biopharmas from going public, with 15 companies graduating to the public arena in June alone. These financings have contributed to the $62 billion that has been generated in combined global public and private company financings in the first half of the year.
DUBLIN – Even by any normal measure of European biotechnology investment, the first two quarters of 2020 were memorable. If it maintains the present momentum, Europe’s drug development sector is on course for a record-breaking year, having already raised $5.034 billion in publicly disclosed equity investments. That puts it well ahead of any other year – the sector edged to a new high in 2019 when it raised $7.739 billion over the full 12 months – but, of course, comparisons with any other year seem irrelevant. This year is like no other. The COVID-19 pandemic has changed everything.
The biopharma industry has raised nearly $62 billion in the first six months of the year, bringing it very close to the $68 billion full-year record of 2015. Well over half of that money has been raised in just the last two months, with May collecting $23.4 billion and June pulling in $16.28 billion.
Research focused on finding viable solutions to counter the COVID-19 pandemic continues at an explosive pace with a total of 588 potential therapeutics and vaccines at the forefront of scientific efforts launched by industry, academia and government.
RSS
