Biopharma financing during the opening quarter of 2023 totaled $13.6bn from 208 deals. Overall, follow on public offerings (FOPOs) made up the greatest proportion (34%) of the financing dollars (see Exhibit 1), with 38 deals bringing in an aggregate $4.6bn. The biggest was by Karuna Therapeutics (medicines for psychiatric and neurological conditions), which netted $437m in its March FOPO. The company plans to use the proceeds to fund ongoing development and future commercialization of its KarXT (xanomeline-trospium) for psychosis in schizophrenia. During Q1, there were 19 other companies with FOPOs of $100m or more.
Financing Quarterly Statistics, Q1 2023
A Look At Financing Activity Across The Biopharma, Medical Device And In Vitro Diagnostics Industries, January-March 2023
During Q1, biopharmas brought in an aggregate $13.6bn in financing and device company fundraising totaled $1.8bn; while in vitro diagnostic firms and research tools players raised $753m.
More from Deal-Making
More from In Vivo
• By
Many assets do not meet their pre-launch predictions, either exceeding or falling short of their forecast sales. In this article, In Vivo highlights several historic examples and the factors that influenced their unexpected performance.
• By
In Vivo spoke with Edward Ahn, CEO of Medipost, a Korean company that has developed stem cell therapies from cord blood, on how they are working across regulatory markets to provide a novel treatment for degenerative diseases.
• By
Leading industry experts have spoken to In Vivo about how investment, a change in mindset and a fresh approach to policy may allow Italy to kick-start its biotech ecosystem.