Raising money to advance promising science is a constant struggle, bringing biopharma executive leadership together to learn about investment strategies in the opening session at the Biotechnology Innovation Organization’s CEO and Investor Conference in New York. “We’re bottoms-up investors. If we like the technology, we like the product, we think it’s going to work, we want to find a way to invest,” said Chris Garabedian, chairman and CEO of Xontogeny.
Med-tech companies raised a total of $25.37 billion in financings in 2024, up from $17.68 billion in 2023, though still significantly lower than previous years. The highest year for med-tech financings on record remains 2020, when $59.7 billion was raised.
Sionna Therapeutics Inc. has opened on Nasdaq in the year’s fourth IPO, this one priced at the upper end of its original per-share range at $18. The cystic fibrosis therapy developer is looking for gross proceeds of about $191 million by offering 10.58 million shares of common stock. On Feb. 7, shares (NASDAQ:SION) closed the day 39% upward at $25.
Biopharma companies secured $5.91 billion across 93 transactions in January 2025, a continuing upward swing from $4.69 billion in December and $3.6 billion in November 2024.
The Comma Collective Inc. raised $2 million in a seed round to support the launch of its secure period tracker and disease detection app, Sara, and further development of its products.
RSS
