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Money worries plague biotech insiders ahead of JPM week

statnews.com · 465 words · saved by 1 readers

Nearly 70% of biotech insiders say financing — such as raising venture capital or launching an IPO — will be a challenge in 2023.

S AN FRANCISCO — What should be a triumphant return to the global biotech industry’s biggest annual event, “JPM Week,” after a two-year hiatus is turning as gloomy as Bay Area weather, with industry executives forecasting economic troubles in the year ahead. STAT asked more than 100 biotech and pharma executives, investors, and other insiders how they’re feeling about the state of the sector heading into 2023 and on the eve of the J.P. Morgan Healthcare Conference in San Francisco. The biggest takeaway: Nearly 70% of respondents said financing — raising venture capital, launching an IPO, or se

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