Biopharma financing activity has continued to remain low compared to the highs seen in recent years, with a total of $39.83 billion raised across IPOs, follow-on offerings, public/other and private financings in the first eight months of 2025.

Propanc Biopharma, Inc. plans to acquire $100 million of Ethereum cryptocurrency over the next 12 months to accelerate its pipeline. The company is advancing its lead candidate, PRP, to enter a phase Ib trial in 30 to 40 advanced cancer patients with malignant solid tumors.

The funding is in place for a phase IIb trial of its lead gut microbiome live biotherapeutic, after MRM Health NV closed a €55 million (US$64 million) series B round.

Financings are on the rise in Hong Kong as a number of Chinese pharmaceutical companies announced capital raisings, including Simcere Pharmaceutical Group Ltd., Qyuns Therapeutics Co., Ltd., Harbour Biomed Ltd. and Cutia Therapeutics.

Charm Therapeutics Ltd. is heading to the clinic after closing an oversubscribed series B, which will fund initial development of a menin inhibitor that is AI-designed to circumvent shortcomings of first-generation molecules.

Leal Therapeutics Inc. is taking advantage of new genetic data that suggest products from metabolic pathways are involved in psychiatric and neurodegenerative diseases.