More than 21 months since the SARS-CoV-2 virus was first identified in Wuhan, China, the questions just keep coming, and the longer they go unanswered, the more divisive the opinions become. Controversies over the efficacy of current vaccines, over whether boosters are necessary for the general population, over the safety of COVID-19 vaccines for young children, over how to distribute the shrinking supply of highly effective monoclonal antibodies, and over how the virus originated in the first place – all of these looming questions have created a firestorm of uncertainty that will not stop burning.
When the SARS-CoV-2 virus first emerged in the U.S., the knee-jerk reaction by biopharma researchers was to make the best vaccines and therapeutics possible and to do so quickly. Since then, the number of those that have entered development has reached 1,001, more than for any other viral infection aside from HIV.
DUBLIN – After a COVID-19-fueled funding bonanza, European biotechnology appears to have reverted to the mean in the second half of this year. Firms engaged in drug development raised a total of $1.886 billion in disclosed transactions during the third quarter (Q3) of 2021. That represents a 44% fall on the total raised in Q2, which was itself down 46% on the Q1 total. The sector has raised a total of $11.44 billion so far this year, meaning that last year’s highwater mark of $12.682 billion is still within reach – but only just. The funding momentum appears to have stalled for now.
With new therapeutics under FDA review for migraine, Alzheimer’s disease and seizures, and several rare disease gene therapies in development, stocks included in BioWorld’s Neurological Diseases Index are tracking 6.09% ahead for the year.
Ernst and Young’s (EY) annual Pulse of the Industry report released today provided proof of med tech’s strong rebound from the disruption of the pandemic. Research and development investment soared, deal activity hit new highs, venture capital poured $9.1 billion into the sector, IPOs doubled, and more than 9 out of 10 of commercial leaders reported increased revenues.
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