Med-tech financings exceeded $1 billion for the third consecutive month, reaching a total of $1.07 billion in transactions in December. In November, med-techs raised $1.02 billion, with $1.23 billion raised in October. The overall average for financings in 2023 stands at $1.47 billion per month, down from a monthly average of $3.19 billion the previous year.
Clinical trial updates saw a 5.82% increase for the period of January to November 2023 compared to the same period last year. In November, BioWorld reported on 354 phase I-III trial updates. Although marking a decline from the 416 reported in October, the number of updates still surpasses the previous three months.
In November, the U.S. FDA approved a total of 12 drugs, a decrease from 27 the previous month that marked the highest number of approvals since June 2020, as reported by BioWorld. From January to November, FDA approvals reached 167, an increase of 21.9% from 137 drugs approved during the same time period the previous year.
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