Spanish Biotech Companies Raise 228 Million in Private Financing in 2023

Spanish biotech companies raise 228 million euros of private financing in 2023, 37% more than the previous year, as announced in the fifth edition of the AseBio Investor Day, organized by the Spanish Association of Biocompanies (AseBio) in the Kursaal of San Sebastián, with the support of the Provincial Council of Gipuzkoa and ICEX Spain Export and Investment.

AseBio has advanced the new financing data for the biotechnology sector, which has reached 228 million euros in private investment, a figure that represents an increase of 37% compared to the total volume raised in 2022.

These data are part of the AseBio 2023 Report that is will be published on June 12, according to which the average volume of operations has been 5.4 million euros. In 2020, four operations were carried out that exceeded ten million euros, in 2021 five, in 2022 three, and in 2023 five. The number of operations has decreased to 42 compared to 2022.

Part of these operations have been accompanied by Cdti’s Innvierte program, which has committed almost 29 million euros in 2023. Since the launch of this co-investment instrument in 2019, it has committed a total of 101 million euros to 35 Spanish biotech companies.

In this sense, the number of capital increases with the participation of international investors is close to 150 million euros in volume raised. A total of ten companies have had the support of investors from countries such as the United States, the United Kingdom, France, Norway, Sweden, Denmark and Italy.

AseBio pointed out that the average volume of Spanish biotech companies operations has been 5.4 million euros

Likewise, a total of eleven Spanish biotech companies, through eleven operations, have achieved 12.3 million euros through crowdfunding, through the Fellow Funders platform and, mainly with Capital Cell. These figures translate into an increase compared to the previous year in terms of volume captured of 41%. Four companies (Pharmamel, IDP Pharma, Laminar Pharmaceuticals and Oncostellae) have exceeded one million euros through this type of platforms.

The main objective of AseBio Investor Day is to promote access to financing by connecting the main national and international investors specialized in life sciences to Spanish biotech companies. This year, the event brought together nearly 280 attendees from more than 180 entities from 19 countries, including 70 investors from more than 55 investment entities.

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(Featured image by Mufid Majnun via Unsplash)

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