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Early-stage biotech funding on pace to drop 40% in 2023, HSBC report shows

July 29, 2023


Investors are much more cautious about the biotechs they back than they were during the sector’s peak a few years ago.

Gone are the days when biotechs could easily raise cash and quickly pivot to public markets before starting a clinical trial. Venture firms are now more focused on helping their existing portfolio companies survive in the tough financing environment. When they do back new companies, they are looking for safer bets and experienced teams.

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