Biotech dealmaking shows some signs of a turnaround. And the industry is keeping its fingers crossed
The big pandemic boom that fueled some crazy numbers in biotech is long gone, as anyone in the industry who doesn’t reside in a sensory deprivation chamber knows. But biotech ended 2023 with a few bright spots that just might signal a healthy surge through 2024 — provided macro issues play along.
Chris Dokomajilar at DealForma, a veteran biotech numbers tracker, gave us a series of charts that illustrate how things have been going at the biotech table. And there are no easy calls. We may have hit bottom last year, with some lift in H2. But you can still feel the pain from deeply discounted valuations — sorry 2seventy — and fresh rounds of cuts. You can also see a lot of potential taking shape for redirecting the next phase of the industry into the plus column.
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