Until recently, venture-backed biotech companies had largely managed to shrug off the malaise that has been hurting the industry for some time. Now the inevitable has happened, with both the number of venture rounds and the amount raised taking a dive in the second quarter.
True, the numbers do not look so bad when compared against pre-2020 figures, the latest analysis of data compiled by Evaluate Pharma show. But, with the current downturn showing no sign of bottoming out, the question is how bad it might become for young private groups.
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