Biotech sees new shoots of growth but has thorns left to prune

[Image courtesy of ipopba/Adobe Stock]

Today, Boston-based Ginkgo Bioworks’ recently unveiled a deal with Pfizer on RNA-based drug candidates, reflecting the growing interest in RNA therapies. Additionally, Carlsbad, California–based Ionis Pharmaceuticals inked a pact with Roche focused on RNA-targeted therapies for Alzheimer’s and Huntington’s diseases. This development underscores the resilience of prominent biotech hubs.

According to data from real estate services firm JLL, also released today, San Diego’s life sciences has seen a steady increase in VC funding in recent quarters, accelerating in the first half of 2023. In Q2 2023, VC funding hit $632 million and has exceeded $1 billion in Q3.

Still, that’s far from the investment peak of $1.94 billion in Q1 2021. Following that boom in the early phases of the pandemic, the San Diego life sciences sector saw its VC funding …

Read more
  • 0