“We are prepared for every scenario, even though we don’t know what some of those are.” That sums up the message from executives of Astrazeneca plc, GSK plc and Sanofi SA, when quizzed during presentations of their first-quarter 2025 results this week, about the fallout if pharmaceuticals they import to the U.S. are subject to tariffs.
Total biopharma financings for the first four months of 2025 reached $15.48 billion, a 71% decline from $53.49 billion in 2024. Biopharma companies raised $2.4 billion in April 2025, reflecting a 37% drop from March's $3.82 billion.
Nuevocor Pte. Ltd. has closed a $45 million series B, enabling it to move lead gene therapy NVC-001 into the clinic in the treatment of an inherited form of cardiomyopathy.
Jiangsu Hengrui Pharmaceuticals Co. Ltd. is the latest mainland China pharmaceutical company to seek a capital raise on the Hong Kong stock exchange, winning clearance April 28 from the China Securities Regulatory Commission to float new H-shares.
Tightening of U.S. regulation and capital is leading Chinese biotechs to alternative and new models of financing, ranging from cross-border licensing deals, M&As, the so-called newco model and overseas listings.
Europe was a bigger counterpart to China in pharmaceutical dealmaking than the U.S. last year, speakers at Chinabio Partnering Forum said April 23, and the trend is likely to continue in 2025 with the shuttering of U.S. capital and volatility ailing global markets.
Antibody-drug conjugate developer Duality Biotherapeutics Inc. debuted on the Hong Kong Stock Exchange (HKEX) with a HK$1.64 billion (US$211.4 million) IPO April 15, making it one of the biggest offerings made under the HKEX’s Chapter 18A listing regime since 2020.
Antibody-drug conjugate developer Duality Biotherapeutics Inc. debuted on the Hong Kong Stock Exchange (HKEX) with a HK$1.64 billion (US$211.4 million) IPO April 15, making it one of the biggest offerings made under the HKEX’s Chapter 18A listing regime since 2020.
Biopharma companies brought in $13.08 billion in financing during the first quarter (Q1) of 2025, marking a significant drop from every quarter of 2024. The number of financings also declined, with 239 transactions completed in Q1 this year, down from a quarterly average of approximately 299 deals in 2024.
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