Medical Biotechnology
Capital Increasing in German Biotech
In 2023, there was a notable resurgence in the financing available to Germany's biotechnology sector.
Jan 12, 2024
Industry organization BIO Deutschland says that German biotech took in EUR 1.08 billion in increased capital and venture capital last year. This marked a significant upturn from the EUR 921 million in capital inflow in 2022.
Capital in German biotech shot up to over EUR 3 billion in 2020 amidst the coronavirus pandemic before receding dramatically. The new numbers represent an approximate return to 2018 levels. But capital inflow is still being hindered by the complete lack of initial public offerings.
“If companies once again launch on the stock market, 2024 could be the year when the tide is turned,” BIO Deutschland chairman Oliver Schacht told business newspaper Handelsblatt.
The standout performer in the sector last year was Isotope Technologies Munich (ITM), a privately financed biotech company that raised EUR 255 million. ITM specializes in radioactive medications for treating cancer.
