The fifth annual listing of In Vivo’s Rising Leaders includes entrepreneurs and innovators from across the world who represent the next wave of creativity in health care.

The model, more common with high-cost gene therapies, is designed to de-risk use of the drug for hospitals in the event that patients with COVID-19-related ARDS do not survive.

Private Company Financings: Year-end data from Pitchbook/NVCA, like recent Evaluate numbers, show venture fundraising slid from the third to fourth quarters. However, Taiho increased its VC fund by $100m, Ji Xing closed a $162m series D round and MAPS raised more than $100m.

Biotech entrepreneurs tend to be an optimistic group, and there were many pockets of hope for 2024. However, the consensus remains that depressed valuations and paucity of fresh funds will continue to pose a challenge for the sector, and companies will need to prioritize carefully and work even harder to demonstrate and create value.