The med-tech industry has maintained its financing momentum into May, with the first five months of 2024 raising $12.7 billion, marking a 42% increase from $8.95 billion during the same period in 2023. Notably, May alone saw $5.05 billion in total med-tech financings, a 307% rise from $1.24 billion in April, and the highest monthly total reported by BioWorld MedTech since November 2022.

Abtis Co. Ltd., Dong-A ST’s newly incorporated subsidiary since December 2023, is making headway with its leading Claudin18.2-targeting antibody-drug conjugate (ADC) candidate, AT-211, according to Abtis CEO Taedong Han. “About 80% of gastric cancers do not have HER2 overexpression, but 77% overexpressed Claudin18.2,” Han told Bio Korea 2024 audience members on May 9, stressing that AT-211 was found to be highly potent against cancer cells expressing Claudin18.2 in ADC cell viability studies.

Biopharma financings rebounded in May, reaching $9.15 billion and marking a 48% increase from $6.18 billion in April. However, value is down from the $13.84 billion in financings seen in March and $22.3 billion in February. This year’s monthly average of $12.52 billion reflects an 112% increase from the average of $5.91 billion per month in 2023.

Trophoblast cell-surface antigen 2 (TROP2) antibody-drug conjugates became a topic of talk during the recent American Society of Clinical Oncology meeting in Chicago.