China's clinical trial paradox: massive volume growth masks declining quality and FDA skepticism
Despite a 73% collapse in venture funding from $15.7B (2021) to $4.2B (2024), China's clinical trial
Fund of the week: RA Capital Management
RA Capital Management, the $12.6 billion biotech-focused investment firm founded in 2001, has aggressively expanded beyond its equity roots
Company of the week: Hanmi Pharm (South Korea)
Company Overview
Hanmi Pharm Co. is one of South Korea's leading pharmaceutical companies, distinguished by its heavy investment
Japan's Biotech and Pharma Industry in 2025: Market Overview and Key Players
Introduction: A New Era for Japanese Pharmaceutical Innovation
Japan's pharmaceutical landscape is undergoing a profound transformation. No longer
Royalties as a Credit Derivative: Modeling Default Risk in a High-Yield Environment
A synthetic royalty stream can be viewed not just as an asset purchase but as a complex credit derivative. In
The Capital Stacking Quagmire: Sequencing Royalty Deals in a Public Biotech
Introduction
In today's tough biotech funding climate, many public biotechs have resorted to creative financing combos to stay
The Weekly Term Sheet (47)
Biotech and Healthcare Transactions Report: November 17-21, 2025
Abbott's $21 billion Exact Sciences acquisition dominated a busy week
Jefferies Week London 2025 – A City Buzzing with Healthcare Deals and Innovation
London has just wrapped up the Jefferies Global Healthcare Conference 2025, now firmly established as Europe’s largest healthcare investment
Company of the week: SanegeneBio
SanegeneBio is a venture-backed biotechnology company founded in 2021, focused on developing RNA interference (RNAi) therapeutics for cardiometabolic and immunological
Royalty Finance Without the Ornament: How Charities, Lawyers and Biotech Veterans Actually Use It
We held our first royalty-financing event in London during the Jefferies Healthcare Conference, a meeting better known for quick negotiations
