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Biotech entrepreneurs tend to be an optimistic group, and there were many pockets of hope for 2024. However, the consensus remains that depressed valuations and paucity of fresh funds will continue to pose a challenge for the sector, and companies will need to prioritize carefully and work even harder to demonstrate and create value.
With valuations down and borrowing costs up, many industry insiders are expecting Darwinian scenes in biotech this year. Survival of the fittest is the order of the day: companies with riskier, less commercially defined propositions will struggle, while platform companies with multiple shots on strong goals will increasingly find favor in a more risk-averse environment.
The French firm will use the funds to establish proof-of-concept for two gene therapy programs in a rare eye condition as it strives to become a world leader in ophthalmic genomic medicine, its CEO tells Scrip.
Evolving challenges will keep the COVID-19 pipeline active, while oncology, immunology and CNS are areas also expected to see much progress in 2022. Industry executives look forward to the year in therapeutic R&D.
- Gene Therapy, Cell Therapy
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