In 2023, the biopharmaceutical industry experienced significant changes. According to a report by Pitchbook, the number of transactions in the biotechnology field decreased to 840, totaling $24 billion. This is a significant decrease compared to 2021, which saw 1,500 transactions totaling $60 billion. One of the factors contributing to this decline is the collapse of Silicon Valley Bank, which has led to financial difficulties and increased caution among investors.
A shift in investment strategy has been observed, with a preference for startups that focus on achieving positive clinical results and developing platforms for the creation of multiple drugs. Additionally, 2023 has witnessed notable technological advancements and changes in investor approaches.
Among the key events of the year is the approval of the first genetic therapy.
1. The Approval of the First Genetic Therapy
In recent years, CRISPR technology has emerged as a crucial tool in scientific research and biotechnology for gene editing. Its discovery has opened new possibilities in medicine, agriculture, and biology, including the development of genetic therapies for hereditary diseases and the creation of pest-resistant crops. CRISPR is revolutionary due to its precision, effectiveness, and relative accessibility in the field of genetic engineering.