Who’s gone? A snapshot of biotechs closing doors

The high-risk nature of biotech has always led to a high level of company attrition, but with the bear market dragging on and companies becoming increasingly cash-strapped, dozens of biotechs have been forced to wind down activities, merge with other companies or close their doors in the last few months.

BioCentury identified 36 biotechs since April 1, 2022 – including 25 since the start of 2023 – that announced they were closed, restructuring, exploring strategic options, or otherwise indicated they were winding down operations. With the pace picking up this year, that list is likely still growing...