Biotech (2021)

Moving beyond make-or-break?

Last updated: 2 Sep 2021

Market 101

As the more adventurous younger sibling, biotech has long ventured where pharma would not: inventing medicine based on living organisms rather than chemical components. Biotech players promise more and more personalised, precise treatments and the kind of specialist knowledge coveted by incumbents. But the field can equally be a gamble of time and resources in the name of out-there research that might simply not pay off.

If biotech’s a risky bet, it’s one that investors are increasingly willing to embrace. The lightning quick adaptability of technology created by biotechs including BioNTech and Moderna during the pandemic gave us the clearest signal yet of the sector’s medical and economic value. Now, the hope is that this Covid momentum may change the industry wholesale, with less makeor-break and enough money sloshing around to ensure startups can dust themselves off and go again.

Early stage market map

Early stage market map

Key facts

43%

Percentage of top 100 life sciences universities located in Europe1

€27.9bn

Market size of cell and gene therapies by 2026 (up from €1.1bn in 2020)2

0.5%

Projected growth in German GDP for 2021 attributed to BioNTech3

Startups tracked by Sifted

Sifted take

There’s no doubt that biotech made in Europe is having a moment. But for the sector to reach its full potential, funneling more of the continent’s world-class research from university labs to startups has to be the priority.

Rising stars

Ophiomics

Diagnostics & testing

Clinical testing

Total funding

€4.8m

Lisbon, Portugal
2015

Is developing a predictive model that uses molecular signatures to diagnose liver cancer. Cofounders Joana Cardoso Vaz and Jose Pereira-Leal both hold PhDs in biomedical sciences.

Round

Seed

Valuation

€5m


Date

2021

Size

€1m

NanoSyrinx

Synthetic biology

Protein and peptide therapies

Total funding

€7.4m

Coventy, United Kingdom
2019

Drugs’ efficacy can be compromised because their active ingredients don’t always get to where they are most needed. Nanosyrinx addresses this by leveraging naturally occurring ‘nanosyringes’ to deliver drugs in a cell-specific, highly accurate manner. The technology is based on founder Joe Healey’s PhD research.

Round

Seed

Valuation

€37.5m


Date

2021

Size

€7.3m

VectorY

Novel therapeutics

Viral therapies

Total funding

€31m

Amsterdam, Netherlands
2020

Combines the strengths of antibodies and gene therapy to address CNS and somatic diseases. The company brings together an experienced leadership team with backgrounds in research, investment and operations in the biotech industry.

Round

Seed

Valuation

€155m


Date

2021

Size

€31m

Early stage startups to watch

24Genetics

Madrid, Spain
2010
Seed

1.3m

1.1m

-

ABOLERIS PHARMA

Nantes, France
2019
Seed

2.5m

2.5m

-

Alia Therapeutics

Povo, Italy
2018
Seed

3.4m

2m

-

Anavo Therapeutics

Leiden, Netherlands
2020
Seed

20m

20m

-

Aptadel Therapeutics

Barcelona, Spain
2020
Seed

1.7m

1.7m

-

Baseimmune

London, United Kingdom
2019
Seed

5m

3.6m

-

Biomatter Design

Vilnius, Lithuania
2018
Seed

500k

500k

-

CiMaas

Maastricht, Netherlands
2015
Debt

-

-

-

Cytoseek

Bristol, United Kingdom
2017
Seed

5.5m

4m

-

Diafir

Bretagne, France
2011
Seed

800k

800k

-

Ellogon.ai

Amsterdam, Netherlands
2021
Seed

220k

220k

-

Emergence Therapeutics

Duisburg, Germany
2019
Seed

-

-

-

Evora Biosciences

Paris, France
2020
Grant

280k

120k

-

Flomics Biotech

Barcelona, Spain
2018
Seed

1.2m

1m

2.5m

Genomtec

Wroclaw, Poland
2016
Grant

2.1m

-

-

Lykon

Berlin, Germany
2015
Seed

6.4m

6.4m

-

Meletios Therapeutics

Paris, France
2020
Seed

3.8m

3.8m

-

NanoSyrinx

Coventy, United Kingdom
2019
Seed

7.4m

7.3m

-

Ochre Bio

Oxford, United Kingdom
2019
Seed

8.9m

8.1m

-

Omniscope

Barcelona, Spain
2021
Grant

2m

1m

-

Ophiomics

Lisbon, Portugal
2015
Seed

4.8m

1m

-

OxVax

Oxford, United Kingdom
2021
Seed

-

-

-

Strike Pharma

Uppsala, Sweden
2021
Seed

1.1m

1.1m

-

Twelve Bio

Copenhagen, Denmark
2019
Grant

-

440k

-

VectorY

Amsterdam, Netherlands
2020
Seed

31m

31m

-

Europe’s success stories

Who early stage startups are up against

(Pre-)Seed

SeriesA

SeriesB

SeriesC

SeriesD+

IPO/Exit

→ Market cap: €71bn (IPO’d 2019)

→ Has a pipeline of more than 20 candidates for treating cancer and infectious diseases

(Pre-)Seed

SeriesA

SeriesB

SeriesC

SeriesD+

IPO/Exit

→ Market cap: €8bn (IPO’d 2016)

→ Develops gene-based medicines based on its proprietary CRISPR-Cas9 gene editing platform

(Pre-)Seed

SeriesA

SeriesB

SeriesC

SeriesD+

IPO/Exit

→ Is developing a genetic sequencing technology capable of analysing a single molecule of DNA or RNA at a time

→ Also developed and commercialised a fast-acting diagnostic test for Covid-19 in 2020

Sources

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