BIF opens with encouraging news

Day 1 of the BIO Investor Forum in San Francisco brought discussions on the fundraising environment and neurodegenerative disease targets and pipelines – we have recaps, plus more news to know today. (626 words, 3 minutes, 7 seconds)

BIO Investor Forum opens with encouraging news

The biotech investment environment is improving this year after a poor 2023, according to yesterday’s opening panel of the two-day BIO Investor Forum in San Francisco.

Volume is up: The $29 billion in European and U.S. healthcare venture capital in H1 2024 was a 34% increase on H1 2023, driven by “mega deals,” like the $1 billion for Xaira, but the total number of deals rose slowly said HSBC’s Jonathan Norris, presenting his firm’s report.

Encouraging trends: “It definitely feels we’re on somewhat of an upswing. IPOs are not at pre-pandemic levels yet, but we’re seeing more liquidity in the market than we were,” said Lori Hu, Managing Director of Vertex Ventures HC.

We’re in a remarkable period for biotech innovation, even if investment is slow, according to Srini Akkaraju, MD, Founder of Samsara BioCapital. “Investors should be incredibly aggressive about putting money to work, but that has not been the case.”

Get your data together: While M&A deals support some early-stage companies, those seeking venture capital or initial public offerings typically must be later-stage companies able to show clinical trial data, panelists agreed.

Read more on Bio.News.

Biotechs, investors optimistic about neurodegenerative disease R&D

Day 1 of the BIO Investor Forum brought together companies and investors who are inspired by recent drug approvals to push forward with neurodegenerative disease targets, reports Bio.News.

A few things they're working on: Huntington’s disease—both to restore normal cell function and to inhibit the Huntington gene—as well as ALS and Alzheimer’s biomarkers, among other developments.

What they’re saying: “We’ve shown that we can do FDA approvals with biomarkers and get two drugs to market,” said Karen Harris, Chief Financial Officer & Head of Mission Related Investments at the Alzheimer’s Drug Discovery Foundation (ADDF). “I think that is just something that de-risks investing in Alzheimer’s, which really was a target that it seemed that most VCs just weren’t interested in. And I’m beginning to see VCs that are now coming to ADDF and saying, Show me your portfolio companies that are raising money.”

What’s next: “What excites me most is the combination of genetic insights, our ability to use human neuronal model systems, our ability to use new biomarkers that are being developed with new technologies like RNA therapeutics,” said Kasper Roet, founder and CEO of QurAlis Corporation, in an exclusive interview. “If you combine these things together, you have this incredibly powerful toolbox to develop therapies for patients that actually are going to work.”

Read more on Bio.News.

BIO urges protection of scientific tools to strengthen food security

Congress and federal officials must “reject any efforts to undermine the existing risk- and science-based regulatory frameworks” enabling farmers to use tools protecting our food supply, says a letter sent Monday from BIO and 266 other groups.

Why it matters: “These tools, including pesticides and genetic innovations, are safe, appropriately regulated, and essential for maintaining American competitiveness and national security,” notes the letter, sent to leaders of the House and Senate Agriculture committees following “significant misunderstandings” in recent weeks.

Case in point: “In April 2021, the Sri Lankan government imposed a nationwide ban on synthetic pesticides and fertilizers,” says the letter. “Crop yields crashed more than 50 percent across the country,” which went from self-sufficiency in rice to importing more than $450 million worth.

“Should these misunderstandings persist, we are concerned with the impact it would have on U.S. consumers’ ability to access a safe, nutritious food supply,” says the letter.

The bottom line: “We strongly urge Congress and federal regulators to avoid any policy changes that would impose new burdens on these tools, undermine their use, or deviate from their existing risk- and science-based regulatory processes,” the letter concludes.

Beltway Report: What's Ahead in Washington

President Biden will deliver a eulogy at a memorial service for Ethel Kennedy, widow of Robert F. Kennedy.

Congressional recess continues until after the election.