Neuroscience and oncology fuel high hopes for therapeutic R&D progress among 90-plus surveyed biopharma industry leaders.

The biopharma industry may not have been the fastest adopter of artificial intelligence, but its vast potential means companies of every shape and size know they cannot ignore it. Executives, advisors and investors share their predictions around the impact of AI in 2023.

Private Company Edition: Patient Square’s private equity fund, which surpassed its $3bn fundraising goal, may invest broadly across health care but the firm already has invested heavily in biopharma. Also, investor Dimension launches with a $350m specialized VC fund and Alto increased its series B to $60m.

The US biotech’s candidate, ALTO-100, has hit the mark in a Phase IIa depression trial, de-risking the firm’s novel precision approach to psychiatry R&D and triggering the start of a Phase IIb study.