Funding in the biotech industry is one of the most pivoted aspects of the investment sector. Biotech companies are the frontrunners in the development of drugs targeting COVID-19. For instance, just after 8 months when the first case of the virus was identified, Gilead Sciences, Inc. received the U.S. FDA approval for antiviral Remdesivir for the treatment of patients.
When the Italy biotech team reached out to us, they were looking to raise $1.8 million capital at the seed stage.
“When we sat together, he wanted to contribute to the world of biotechnology and make the world a better place. The team was oriented towards modernizing the drug regulatory pathway, standardizing clinical studies and speeding up the product approval process. The fact that they had their focus set straight and their research on point made us believe that raising capital won’t be very difficult for their organization.” – Ash Narain, founder Marquee.
The global biotechnology market size was valued at USD 752.88 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 15.83% from 2021 to 2028. The market is driven by favorable government initiatives owing to the growth of the biotechnology sector in various countries. Around 4 out of every 10 drugs are biotech derived, which can be attributed to the growing demand for orphan drugs and personalized medicine.
Moreover, the expansion of the biotech industry’s involvement with diagnostic companies, drug manufacturers, research laboratories, and multinational pharmaceutical companies for developing therapeutic molecules to target COVID-19 is contributing to the market growth.
For example: In March 2020, Pfizer Inc. entered into a collaboration with BioNTech SE for the development of BNT162, COVID-19 vaccine candidate. BioNTech SE developed the vaccine using mRNA technology for the rapid development of the vaccine.
So, what worked for us was that the biotech market was experiencing a huge bloom and our client’s idea of a biotech company that would contribute to the market.
Our work speaks for itself and we are proud of it.