The biotech industry garnered huge revenues during the COVID-19 pandemic as companies fostered advancements in drug development and introduced vaccines to help the world fight the deadly virus. Moreover, breakthrough developments to prevent the incidence of chronic diseases, rising investments in innovative technologies, and increased aging population’s needs are creating lucrative growth opportunities for this sector.
However, this industry has witnessed a slowdown this year due to the broader market correction and the improving pandemic crisis. Some believe it is facing its worst time since its inception. Amidst the rumblings of a global recession, access to capital has become seemingly difficult for the sector. According to Barbara Ryan, founder of Barbara Ryan Advisors, a life sciences capital markets strategic advisory firm, the industry has gone “from hero to zero.”
