DUBLIN – Even by any normal measure of European biotechnology investment, the first two quarters of 2020 were memorable. If it maintains the present momentum, Europe’s drug development sector is on course for a record-breaking year, having already raised $5.034 billion in publicly disclosed equity investments. That puts it well ahead of any other year – the sector edged to a new high in 2019 when it raised $7.739 billion over the full 12 months – but, of course, comparisons with any other year seem irrelevant. This year is like no other. The COVID-19 pandemic has changed everything.
DUBLIN – Biontech SE closed a mammoth $325 million series B round to fund expansion of its clinical pipeline and to continue its ongoing investments in several different areas of manufacturing. The scale of the deal is of historic proportions – it is the biggest private equity investment in any comparable European biotechnology firm. It just edges ahead of Oxford, U.K.-based Immunocore Ltd.'s $320 million investment in 2015.