The $60.8 billion collected by biopharma companies throughout 2022 is a sharp drop from each of the two prior years, down by 48.6% from 2021 and 54.8% from 2020. Each were standout years by any measure and a direct result of the investment fervor for the industry brought on by the COVID-19 pandemic. That exuberance diminished in the last year as investors tightened their grips due to economic uncertainties.
Nextpoint Therapeutics Inc. closed an $80 million series B round to move two novel immune checkpoint inhibitor programs into clinical development in the coming year. The Cambridge, Mass.-based firm is planting a flag in an area of immune signaling that has been largely overlooked by drug developers until now.
Hightide Therapeutics Inc. closed a $107 million series C round that will advance multiple global development programs for lead candidate HTD-1801, including a phase III trial in type 2 diabetes.
Baili Biopharmaceutical Co. Ltd. has raised ¥990.47 million (US$146 million) on the Shanghai STAR Market. Its shares opened Jan. 6 at ¥28.75 apiece, surging over 30% its first trading day, and closing at ¥38.40 on Jan.9.
Raynovent Biotech Co. Ltd. has raised ¥370 million (US$54 million) in a series C round to further develop candidates in the field of respiratory and metabolic diseases.
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