Bio­phar­ma deal­mak­ers re­flect on last year's shifts in the mar­ket, as they gear up for an­oth­er 'ac­tive' year ahead

While 2021 was an­oth­er big year for bio­phar­ma R&D — with the num­ber of IPOs and biotech VC fund­ing eclips­ing last year’s im­pres­sive amounts — we al­so saw a few shifts in the mar­ket.

First off, bio­phar­ma M&A was down 11% from 2020, with a no­table in­crease in deals around CD­MOs and the ser­vices space. And VCs have al­so shown a grow­ing in­ter­est in plat­form and ear­li­er-stage pro­grams, ac­cord­ing to num­bers com­piled by Deal­For­ma.

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