After a “brutal” year, there is reason for optimism, with the fourth quarter seeing an upswing in deal numbers and the amount raised, according to the UK Bioindustry Association’s final tally of biotech financing in 2025.
A company launched by Alphabet Inc.’s Deepmind in 2021, Isomorphic Labs Ltd., entered its first biopharmaceutical partnerships to discover small-molecule therapeutics with Eli Lilly and Co. and Novartis AG in deals worth $1.75 billion and $1.24 billion, respectively.
