The BioWorld Drug Developers Index (BDDI) continued to track closely with the Nasdaq Biotechnology Index (NBI) and the Dow Jones Industrial Average (DJIA), maintaining its trend upward after a decline at the end of April. BDDI increased by 2.14% through the end of June, following a 1.82% rise through May, after ending April down 4.8% from the start of the year.
In June 2024, BioWorld covered 221 clinical trial updates, compared to 298 in May. BioWorld recorded 23 phase III trial successes in June, seven failures, and one with mixed results.
In June 2024, BioWorld covered 221 clinical trial updates, compared to 298 in May. BioWorld recorded 23 phase III trial successes in June, seven failures, and one with mixed results.
After reaching a height in 2021, seed and series A rounds have fallen in recent years, and 2024 is no exception, although amounts raised are tracking slightly ahead of last year. On July 23, the numbers were given a boost when two new companies – namely Dover, Del.-based Brenig Therapeutics Inc. and Boston-based Third Arc Bio Inc. – raised $65 million and $165 million, respectively, in series A financings. A third new company, Abiologics Inc., also received $50 million in initial funding.
Many respiratory syncytial virus (RSV) disease vaccines are for older adults but Merck & Co. Inc.’s monoclonal antibody, MK-1654 (clesrovimab), which just produced positive top-line phase IIb/III data, aims at a far smaller and younger market. Data for protecting healthy preterm and full-term infants from RSV disease show the double-blind, randomized, placebo-controlled clinical trial hit all its primary efficacy and safety endpoints, including the incidence of RSV-associated medically attended lower respiratory infection for 150 days compared to placebo.
In the first half of 2024 (1H24), biopharma deal and M&A values have outpaced those of last year. Deal values reached $97.59 billion through June this year, marking an 11% increase from 1H23 and setting a new record for the highest amount raised in the first half of any year, according to BioWorld. Additionally, biopharma M&As more than doubled, soaring from $29.59 billion in the first half of 2023 to $67.44 billion in the same period this year.