The BioWorld Biopharmaceutical Index (BBI) has fallen from its highest point this year to close September up 5.91% since the start of the year. BBI was down 3.65% at the end of February, peaked at 7.87% at the end of August, then closed up 5.91% on Sept. 29, tracking higher than both the Nasdaq Biotechnology Index (NBI) and Dow Jones Industrial Average.

Through September 2023, biopharmas raised a total of $49.15 billion, up 7.46% in value from the $45.74 billion raised in the same period last year. Value is down from $93.98 billion raised in 2021 and $104.09 billion in 2020, but up from $42.17 billion raised in 2019 in the same time period.

Through September 2023, biopharmas raised a total of $49.15 billion, up 7.46% in value from the $45.74 billion raised in the same period last year. Value is down from $93.98 billion raised in 2021 and $104.09 billion in 2020, but up from $42.17 billion raised in 2019 in the same time period.

January-August 2023 saw clinical trial data up 1.22% compared to the same time period last year. In the first eight months of this year, BioWorld reported on 2,314 drugs in phase I-III, compared to 2,286 in the same timeframe in 2022. The number of trial updates is down 13.24% from the 2,667 in 2021 and down from 2020’s 2,363, but up 20.46% from 2019’s 1,921.

January-August 2023 saw clinical trial data up 1.22% compared to the same time period last year. In the first eight months of this year, BioWorld reported on 2,314 drugs in phase I-III, compared to 2,286 in the same timeframe in 2022. The number of trial updates is down 13.24% from the 2,667 in 2021 and down from 2020’s 2,363, but up 20.46% from 2019’s 1,921.

Approvals from the U.S. FDA are up more than 16% from last year, with 113 drugs approved in the first eight months of 2023. New approvals include two different treatments for relapsed or refractory multiple myeloma, two treatments for ultra-rare diseases and a biosimilar to Biogen Inc.’s Tysabri. In August the FDA greenlighted 13 drugs, approving three NDAs, six BLAs, two supplemental NDAs and two supplemental BLAs.

Biopharma deal values through August are down 13.05% year-over-year, while the number of deals has fallen by 18.51% compared to 2022. M&A value, meanwhile, is down just 3.6% from last year. Through August, 2023 saw 885 biopharma deals worth $111.87 billion, compared to 1,086 deals totaling $128.66 billion in the same period in 2022. The first eight months of 2021 saw 1,386 deals worth $121.22 billion, 1,381 deals valued at $129.96 billion in 2020 and 1,051 deals worth $111.93 billion in 2019.

In August 2023, med-tech firms raised a total of $1.88 billion through 27 transactions, an increase of 94.12% from the $971 million raised in July. Value is down 42.83%, however, from the $3.3 billion raised in August 2022. The volume of med-tech financings is tracking at an average of 41 per month in 2023, down from an average of 43 per month in 2022, 59 per month through 2021 and 60 per month in 2020.