Biopharma grants maintained their upward trajectory throughout 2023, culminating in a nearly 67% increase in value compared to 2022, mirroring the trend observed in October. Conversely, nonprofit deal value witnessed a continued year-over-year decline, falling by more than 90% in value.
Combating Antibiotic-Resistant Bacteria Biopharmaceutical Accelerator (CARB-X) has awarded US$ 2.2 million to Limmatech Biologics AG to advance the development of its novel vaccine candidate to prevent Neisseria gonorrhoeae infections.
Cantabio Pharmaceuticals Inc. has been awarded a grant by The Michael J. Fox Foundation for Parkinson’s Research (MJFF) to support the development of a cell-penetrant DJ-1 protein replacement therapeutic candidate for the treatment of Parkinson’s disease.
Domain Therapeutics SA has been awarded a grant as part of the Hospital-University Research in Health (RHU) SPRINT consortium, which seeks to progress a precision medicine for cutaneous T-cell lymphoma (CTCL).
Factor Bioscience Inc. has been awarded a grant by the U.S. Department of Defense to develop next-generation cell therapy candidates using Factor's patented mRNA, cell-reprogramming, and gene-editing technologies.
Biopharma grants have sustained the upward trajectory noted in August, ending October up nearly 75% compared to the corresponding period last year. In contrast, nonprofit deal value has continued its year-over-year decline, marked by a more than 90% decrease in value.
Biopharma grants have sustained the upward trajectory noted in August, ending October up nearly 75% compared to the corresponding period last year. In contrast, nonprofit deal value has continued its year-over-year decline, marked by a more than 90% decrease in value.
Biopharma grants are up nearly 150% compared to the same time period last year, largely due to a number of $100 million-plus grants from the Biomedical Advanced Research and Development Authority (BARDA). Meanwhile, nonprofit deal value has declined year-over-year, with the number of transactions down 42.21%.
The Feinstein Institutes for Medical Research, the research arm of Northwell Health, landed a $3.4 million grant from the Wellcome Trust to evaluate the use of transcranial magnetic stimulation (rTMS) for schizophrenia. Feinstein will undertake a five-year, double-blind, randomized trial to see whether rTMS improves cognitive or other symptoms of schizophrenia. The technology currently has FDA approval for use in individuals with depression and obsessive-compulsive disorder.
As the biopharma industry moves away from the COVID-19 pandemic and expands research in other areas, the amount of money flowing into companies through deals with nonprofit or government entities and grants has plummeted 53% in comparison with 2021. The drop is mainly due to a diminishing number and a lower overall value of bio/nonprofit partnerships. Grants, on the other hand, have risen in both areas.