Swiss biotech firms raised CHF1.3 billion (US$1.5 billion) in equity and debt financing in 2022, a fall of 60% from the previous year’s total of over CHF3.3 billion. But it’s still ahead of historic pre-pandemic levels of funding.

During what has become one of the slowest IPO years in recent memory, cancer immunotherapy company Cytomed Therapeutics Ltd. debuted on Nasdaq, raising $9.65 million, while inflammatory disease firm Acelyrin Inc. filed to list its stock for a potential $100 million. Up to this point, there were only six biopharma IPOs completed this year – the fewest since 2013. Cytomed, which priced 2.4 million shares at $4 apiece, is now the seventh for 2023, and the fifth on Nasdaq. Two other IPOs have closed on Chinese markets.

During what has become one of the slowest IPO years in recent memory, cancer immunotherapy company Cytomed Therapeutics Ltd. debuted on Nasdaq, raising $9.65 million, while inflammatory disease firm Acelyrin Inc. filed to list its stock for a potential $100 million. Up to this point, there were only six biopharma IPOs completed this year – the fewest since 2013. Cytomed, which priced 2.4 million shares at $4 apiece, is now the seventh for 2023, and the fifth on Nasdaq. Two other IPOs have closed on Chinese markets.

Raising $15.6 billion through 276 transactions, the biopharma industry has experienced a respectable first quarter (Q1) in terms of financings, with a 14% jump over last year and higher amounts than the first quarters of many pre-pandemic years. The financings compare with $13.7 billion raised through 253 transactions in 2022’s Q1.

Raising $15.6 billion through 276 transactions, the biopharma industry has experienced a respectable first quarter (Q1) in terms of financings, with a 14% jump over last year and higher amounts than the first quarters of many pre-pandemic years. The financings compare with $13.7 billion raised through 253 transactions in 2022’s Q1. Private money remains the strongest source of capital in 2023, with venture capital bringing nearly 45% to the table and private investors in public companies bringing another 20%.

Health Guard Biotechnology Inc. raised ¥294 million (US$43 million) in an IPO on the SME-focused Beijing Stock Exchange, with the funds going to push the development of its HPV vaccines.

Health Guard Biotechnology Inc. raised ¥294 million (US$43 million) in an IPO on the SME-focused Beijing Stock Exchange, with the funds going to push the development of its HPV vaccines.

While the U.S. is in an IPO drought, going public remains the only lifeline for many small life sciences companies facing a decade of development, R&D costs of $1 billion or more, and a hefty risk of failure, Susan Washer, former CEO of Applied Genetic Technologies Corp., testified in a March 9 hearing before the House Subcommittee on Capital Markets.

Fresh off an end-of-year IPO, Coya Therapeutics Inc. is gearing up for clinical testing with its lead Treg-enhancing biologic in neurodegenerative disease, aiming to build on a wealth of academic-generated data highlighting the potential of Treg therapy to attack the neuroinflammation underlying diseases such as amyotrophic lateral sclerosis and Alzheimer’s disease.

South Korea’s GI Innovation Inc. announced its IPO on the Kosdaq market with plans to raise up to $34 million in March 2023. Funds raised from the IPO will go toward phase I/II clinical trials of immunotherapy agent GI-101 in the U.S. and Korea, and a phase I trial of allergy treatment GI-301 (also known as YH-35324) in Korea.