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Industry Outlook 2025: Mergers, Acquisitions, and Funding
Pharmaceutical Technology® Group spoke with Erik Wiklund, CEO of Circio, about the future of M&A in the bio/pharmaceutical industry and the struggle small biotech companies face raising funds.
According to Erik Wiklund, CEO of Circio, the bio/pharmaceutical industry has seen a trend toward fewer, but larger mergers and acquisitions. During the COVID-19 pandemic, biotechs had ample access to venture capital and public funding; however, since the pandemic, capital has dried up, as valuations have plummeted and investors have lost money. In addition, a looming patent cliff is also straining revenue expectations.
“Both of these forces can converge into larger and later-stage deals, so investors are likely to buy into later-stage de-risked programs with clinical validations, Stage II, Stage III, [with a] clear path to approval, and that's probably where the M&A deals are and will continue to happen,” Wiklund says. “Investors are looking for lower-risk assets with a clear development path closer to the clinic. Unfortunately, for a company like ours, which is building a really exciting new gene therapy technology platform, it has become difficult to fundraise in the current environment. This forces companies like Circio to prioritize asset generation, picking a track and going deep in one single area, rather than to scientifically develop the platform to its full potential which would have been the standard strategy three years ago, where Big Pharma and investors were looking for technology platforms with broad therapeutic potential.”
Click the above video to watch the interview.
About the speaker
Erik Wiklund, PhD, is CEO of Circio. He has deep scientific knowledge in RNA and cancer biology, and 13 years of pharma and biotech industry experience in a variety of functions including R&D, finance, and business development. Previous employment includes the radiopharmaceutical company Algeta, which was acquired by Bayer in 2014, Aker Biomarine, and management consulting experience from the Pharma & Health Care practice of McKinsey & Company. Wiklund holds a PhD in Molecular Biology from Aarhus University, Denmark, and the Garvan Institute of Medical Research, Sydney, Australia.
