One year ago, biopharmaceutical executives and investors at the BIO International Convention were abuzz with talk of a return to the glory days when companies were regularly acquired for billions of dollars a pop. 🧵
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This week, attendees at the conference—sponsored by the Biotechnology Innovation Organization—struck a markedly different tone. Few spoke of mergers and acquisitions, nor did they try to spin the multiyear biotech market downturn into a positive.
If executives were looking to make deals at hashtag#BIO2025, those transactions were largely limited to licensing agreements. If they were looking to raise funds, they openly acknowledged the difficulty of getting venture capital these days.
In some ways it's refreshing, says Treehill Partners CEO Ali Pashazadeh.
“The nice thing is if the market is tougher, people just cut the shit,” Pashazadeh says. “They just get to the point. Is there a deal here? Is this what we want to do? Let's stop dancing.”
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“The nice thing is if the market is tougher, people just cut the shit,” Pashazadeh says. “They just get to the point. Is there a deal here? Is this what we want to do? Let's stop dancing.”