On Oct. 24, 2023, the CPHI Annual Report 2023 was released during CPHI Barcelona. This report indicates a rise in biotech funding and subsequent growth for pharma contract services. This year’s CPHI Barcelona reportedly sees the largest gathering of contract development and manufacturing organizations (CDMOs). Analysis on the report was given by CPHI Report expert Brian Scanlan of Edgewater Capital. According to Scanlan, liquidity in the biotech and mid-sized pharma market is typically a proxy of growth for the contract research organization (CRO)/CDMO sector. Over the past two quarters, funding into the sector has seemingly stabilized at levels last seen right before the pandemic. Total funding in 2023 is trending ahead of 2022, with the exception of initial public offerings (IPOs), which remain weak.
Read the full article: CPHI Annual Report: VC Capital Investment and Contract Services Growth in 2024 //