Patent cliff fuels Novartis’ $1.5bn swoop for London biotech Healthcare Swiss pharmaceutical giant Novartis has agreed to buy London-based biotech Myricx Bio for up to $1.5bn (£1.1bn) as global drugmakers continue deploying billions into promising biotech firms ahead of an estimated $450bn wave of patent expiries over the next decade. The deal will see Novartis pay $1.1bn upfront, with a further $400m tied to development [...]
Investors eye farming as AI’s latest cash cow Tech A startup fitting livestock with AI-powered collars is closing in on a $2bn valuation, as investors turn their attention to a less obvious frontier for AI. New Zealand-based Halter is in talks to raise fresh funding led by Founders Fund, the Silicon Valley firm backed by Peter Thiel. The round is understood to be heavily [...]
UK start-up funding falls but life sciences sector picks up Tech UK start-ups secured $2.9bn (£2.2bn) in new venture capital (VC) funding during the third quarter of 2024, a sharp drop from the $5.7bn (£4.4bn) raised in the previous quarter, according to fresh data from HSBC. The global VC market also slowed, marking its weakest quarter in over four years, driven largely by a downturn in [...]
Meet the fund managers: Biotech investing under the microscope September 23, 2024 In this weekly series, investment reporter Elliot Gulliver-Needham sits down with a fund manager for a Q&A. This week, we’re hearing from Ailsa Craig, co-portfolio manager of International Biotechnology Trust. How does your fund stand out from others in the same market? While many companies in the biotechnology sector are proven, cash-generating businesses, those at [...]
Curing cancer and cleaning our oceans? Here’s why I’m betting on biotech September 1, 2024 Something that can cure cancer and clean our oceans? Biotech sounds too good to be true, but some things really are just like magic, writes Andrew Craig.
Bivictrix quits London’s AIM to chase private funding as market ‘undervalues’ firm August 12, 2024 Biotech firm Bivictrix Therapeutics is the latest company to exit the London Stock Exchange’s AIM market, citing difficulties in raising funds compared to its privately-owned competitors. The company, which is headquartered in Macclesfield, said it would not be able to raise enough capital to advance its medication to a clinical trial via London’s junior market [...]
Destiny Pharma is latest to leave London in pursuit of private funding July 15, 2024 Biotech business Destiny Pharma has become the latest firm to de-list from the London Stock Exchange after it said it would have access to a "larger pool of capital" as a private company.