Med-tech companies raised $25.36 billion in financings in 2024, marking a 43% increase from $17.68 billion in 2023. December saw a significant rise, with $1.72 billion raised, compared to $919.99 million in November.
Despite a sometimes-turbulent stock market and over 18,000 job losses, 2024 closed with signs of recovery, marked by growth in both financings and deals, setting an optimistic tone for 2025.
As investors and industry alike try to read the tea leaves of what the upcoming change in administrations holds for the U.S., speculation abounds about what Trump 2.0 will mean for the biopharma and med-tech spaces.
Intriguing scientific data continue to roll out in the head and neck cancer space, where the need for therapies has spurred a number of drug firms to try new approaches, which BioWorld examines in part two of a series that began in the Dec. 30 issue.
From local drug discovery to global innovation, economic uncertainty is taking a toll on China’s innovative biotech system, forcing local companies to weather unpredictable storms, investors said during the Chinabio Partnering Forum in Shanghai in September.
At Bio Japan 2024, policymakers and industry leaders pledged to make Japan a land of drug discovery to attract native and foreign drug developers. Like many Asian countries, Japan is harnessing and prioritizing the bio sector to drive economic growth, throwing its weight behind its 10-year Bioeconomy initiative to create bioclusters and increase investment.
Though Pyxis Oncology Inc.’s preliminary phase I data with antibody-drug conjugate (ADC) PYX-201 in solid tumors were characterized as positive, findings sent the Boston-based firm’s stock (NASDAQ:PYXS) into a tailspin. Shares dropped from $3.82 to $2.01 between Nov. 20 and the morning of Nov. 21, even as experts along with Wall Street agreed that the compound shows particular promise in head and neck squamous cell carcinoma – a space where developers aplenty remain busy.
From local drug discovery to global innovation, economic uncertainty is taking a toll on China’s innovative biotech system, forcing local companies to weather unpredictable storms, investors said during the Chinabio Partnering Forum in Shanghai in September.
In November 2024, BioWorld tracked 180 clinical trial updates, down from 219 in October and 252 in September but up from 92 in August. The month included 13 successful phase III outcomes and five trial failures.
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