Compared to the highs of investment seen by the sector over the past couple of years, it has felt a much harsher environment in which to raise capital in 2022. The huge reduction in number and value of IPOs onto Nasdaq; the vast majority of biotechs listing post-Covid trading down and a drop in private capital investment, particularly in later rounds have created a gloomy feel in many quarters.
Despite this however, there have been many success stories, funding rounds secured, start-ups formed and deals done. Investment levels are not out of keeping with the steady trajectory pre-pandemic.…