Research focused on finding viable solutions to counter the COVID-19 pandemic continues at an explosive pace with a total of 588 potential therapeutics and vaccines at the forefront of scientific efforts launched by industry, academia and government.
The biopharma industry has raised nearly $62 billion in the first six months of the year, bringing it very close to the $68 billion full-year record of 2015. Well over half of that money has been raised in just the last two months, with May collecting $23.4 billion and June pulling in $16.28 billion.
Research focused on finding viable solutions to counter the COVID-19 pandemic continues at an explosive pace with a total of 588 potential therapeutics and vaccines at the forefront of scientific efforts launched by industry, academia and government.
Deals tracked by BioWorld indicate a slight slowdown in activity moving from April to May, showing an 8% drop in the number of deals and a 43% drop in the disclosed deal values.
Up-and-coming cell and gene engineering company Sana Biotechnology Inc. raised $700 million in a first round financing, bumping Moderna Inc., which previously had the highest venture capital (VC) financing of a traditional biotech company to date.
Two months earlier than expected, Pharmamar SA and partner Jazz Pharmaceuticals plc received an accelerated FDA approval of Zepzelca to treat relapsed metastatic small-cell lung cancer patients.
A number of clinical trials hit primary endpoints in May, despite the COVID-19 pandemic, which still accounted for about 30% of the phase I through phase III news flow during the month.
Money raised through biopharma financings so far in 2020 is double the amount raised within the same timeframe of 2019, partly due to two large financings completed in May by Sanofi SA, which is working on candidates to treat or prevent COVID-19, the disease caused by the SARS-CoV-2 virus.
Swept up into a coronavirus whirlwind, the biopharma industry has ramped up development of therapeutics and vaccines and altered business plans to fight the SARS-CoV-2 virus in a way that nobody could have imagined only months ago.
Few would dispute that the best way to find innovative solutions to the COVID-19 pandemic is through industry, academia and government working together. BioWorld data indicate that more than 45% of the biopharma deals with nonprofit entities (bio/nonprofit) in 2020 are indeed focused on fighting the globally-disruptive SARS-CoV-2 virus.
