Industry Insights: Biotechs Fairing in 2023 - United States Life Sciences 2023

Industry Insights: Biotechs Fairing in 2023

After navigating tumultuous waters in 2022, biotechs share their forecast on the industry’s health in 2023 and beyond

“Despite less funding and M&A in 2022, the life sciences industry remains strong and capable of delivering scientific and clinical breakthroughs for important unmet needs, e.g., mRNA vaccines to address the Covid-19 pandemic. In the meantime, risk tolerance may be lower and expectations higher for companies seeking venture capital or acquisition.”

Jason Kralic, Co-Founder and CEO, Tellus Therapeutics

“This period has certainly been challenging for the biotech industry, but we are doing remarkably well. In 2022, we finished enrollment in a Phase 2 Type 2 diabetes program, initiated our Phase 2b NASH program in the US, and had a very successful end-of-Phase 2 meeting with the FDA for the treatment of a rare liver disease called primary sclerosing cholangitis. We expanded the team and increased our headcount by 30%.”

Liping Liu, Founder and CEO, HighTide Therapeutics

“This is a challenging time for the biopharma industry. Fortunately, we have several things going for us. We have a technology platform that can generate multiple products that address large market opportunities, we have established proof of clinical concept for two therapeutic assets and will be generating data from human studies within the next 12 months, and we have a cash runway through the end of 2024.”

Denis Dufrane, Co-Founder and CEO, Novadip

“Our main achievement in 2022 was receiving FDA Orphan Drug Designation for HSB-1216 as a leading ferroptosis inducer to enter the clinic for the treatment of uveal melanoma, in addition to the Orphan Drug Designation for small-cell lung cancer. Our second drug candidate, HSB-888, also has the Orphan Drug Designation and a Rare Pediatric Disease Designation (RPD) for pediatric osteosarcoma. Additionally, we grew our patent portfolio and now have a world-class scientific advisory board which gives us a competitive edge as we navigate through the clinical and commercialization stages of development. Finally, we closed on a successful US$15 million initial public offering (IPO) for our Nasdaq uplisting.”

Randy Milby, CEO, Hillstream BioPharma

“The best way to attract investment is with serious science and well-validated clinical mechanisms of action. An asset in the clinic with a well-described mechanism of action for how it works and peer-reviewed science, including NIH funding, helps with the validity. Ultimately, the proof is in clinical data. Reproducible safety data, good pharmacokinetics from a Phase 1 trial, and the description of a Phase 2 trial with hard endpoints that will hopefully separate the placebo from the drug candidate being tested will drive interest.”

Hernan Bazan, CEO and Co-Founder, South Rampart Pharma

Background image courtesy of Evonik

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