For European biotechnology, 2022 was a year of contraction. Disclosed equity investments in European firms engaged in the discovery and development of therapeutics totaled $6.782 billion, down 55% on the previous year’s record-breaking tally of $15.193 billion. Last year’s tally is the worst performance since 2017 and is well below the totals achieved during the two years immediately preceding the onset of the COVID-19 pandemic, which triggered a boom in biotech investing.

The eyes certainly have it. There are plenty of ocular gene therapies being studied in a crowded field and now there is a new one as Perceive Biotherapeutics Inc. has closed on a $78 million series B financing.

Bottneuro AG closed the first tranche of a bridge round, bringing its total capital raise in 2022 to $4.3 million. This is being used to develop its noninvasive, domestic therapy for treating early moderate-stage Alzheimer’s patients.

Cryofocus Medtech (Shanghai) Co. Ltd. has raised HK$210 million (US$27 million) on the Hong Kong Stock Exchange. Its shares opened at HK$18.5 apiece, fell over 6% and closed at HK$17.66 on the first trading day of Dec. 30, 2022. Its shares closed at HK$16.8 per share on Jan. 3, 2023.