By Rédaction Africa Links 24 with Damian Garde
Published on 2024-01-18 14:33:15
Stay up to date with the latest in biotech by signing up for our newsletter. Good morning, Damian here, with a roundup of the early-year volatility in biotech, the launch of a new venture fund, and the challenges of facing reality.
First, BridgeBio Pharma has secured $1.25 billion in financing, including $500 million in cash in exchange for 5% royalty payments on future sales of its heart medicine acoramidis. This deal has significant implications for the company’s future development and growth.
Despite a flurry of deals at the recent J.P. Morgan Healthcare Conference, which drove biotech stocks to highs not seen since 2022, sentiment quickly cooled off once the billion-dollar agreements stopped flowing. This shows the fickle nature of the biotech market and the impact that big deals can have on stock prices.
For the full story on biotech’s hot start and subsequent cool down, you can read more on STAT+.
The early part of the year has been eventful for biotech, with significant financial deals and market fluctuations. Staying informed about these developments is crucial for anyone involved in or following the biotech industry. Our newsletter provides essential updates on the science and politics driving biotech today, delivered straight to your inbox.
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Read the original article on Africa Health News
