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EUROPEAN LIFE SCIENCES INVESTORS UPBEAT ABOUT 2024 OUTLOOK
Tough markets set to improve in 2024, finds Optimum’s survey of leading VCs
Deals, including collaborations and M&A, likely to pick up sooner than IPOs
While investors remain discerning, plenty of ‘dry powder’ is available for the right investment
Against this backdrop, clear communication has never been more important
LONDON, Jan. 8, 2024 /PRNewswire/ — Optimum Strategic Communications (‘Optimum’), the international strategic healthcare communications firm, today announces the results of its 2024 survey of European life sciences venture capital (VC) investors. The survey, conducted in November and December 2023, and including responses from highly influential European investors, representing funds with c.$300bn in assets under management, found that most believe market conditions for life science companies will improve through 2024.
After two years of relentlessly rising interest rates, which have had “a fundamental impact” on valuations and market activity, investors say the outlook appears to be more positive – opening the door to more deals, including financings, collaborations and M&A. However, investors believe the appetite for IPOs is unlikely to improve before 2025.
The tough market environment has forced investors to become more cautious: many saying that they have to focus much of their time, energy and cash on existing portfolio companies. Yet the survey also found many VCs still have plenty of ‘dry powder’ ready to be deployed if the right opportunity presents itself. When looking out for fresh opportunities, investors have become more discerning – demanding great data, proven management teams and clarity of vision.
Against this difficult but improving backdrop, investors told Optimum that it has never been more important for companies to be able to communicate a strong and compelling investment story if they are to secure the deals they need.
Report highlights
- More than half of survey respondents described the 2024 outlook for European life science companies as positive
- While deal activity has been slow since 2021, activity is picking up and likely to increase as Big Pharma looks to refill its pipeline ahead of numerous patent expiries in the late 2020s
- Areas of particular investor interest include obesity drugs, neurology, immunology and select oncology, including ADCs and radiopharma
- The improving sentiment comes after high inflation and interest rates forced VCs to re-appraise their investments in life science companies due to the increased cost of capital
- The lack of IPOs has also meant investors have had to back portfolio companies for longer, limiting opportunities for investment in new companies
- VCs have considerable ‘dry powder’ ready to be deployed, if they can be convinced of a company’s merits
- Investors remain highly impressed with the quality of science exhibited by European life science companies, citing this as their main strength
- Valuations can be a sticking point, with investors concerned management of some private companies are not being realistic given the changed interest rate environment
- European companies need to improve how they communicate their science and their stories, with one VC urging them: “Just sell the hell out of it!”
Commenting on the survey, Mary Clark, CEO, Optimum Strategic Communications, said:
“Life sciences companies have been on a white-knuckle ride over the last few years, with soaring valuations during the pandemic followed by a painful crash. Optimum’s latest survey of European healthcare investors suggests that while the situation remains tough, sentiment finally appears to be turning a corner – with a majority of respondents having a positive outlook for 2024. Crucially, many investors say they have lots of capital to deploy, but the difficult conditions of the last couple of years have led them to be much more discerning.
“While few believe the IPO market will really re-open until 2025, deal activity is already starting to pick up – a trend that is likely to increase through 2024.
“European companies now need to work harder to convince investors or partners of their strategy and vision: being able to tell the ‘right’ story has never been more important.”
If you would like to receive the complete report, please email [email protected] or download it from our website here.
Twitter: @OptimumComms
LinkedIn: optimum-strategic-communications
Website: www.optimumcomms.com
About Optimum Strategic Communications
Optimum Strategic Communications is an international healthcare communications consultancy which specialises in strategic investor relations, corporate and financial communications. Our senior team of healthcare specialists, based in London, Amsterdam, Stockholm, Zurich, and New York, are experienced and trusted advisors to some of the world’s most exciting public and private companies, both large and small, across pharmaceuticals, biotech, medtech, health tech, healthcare services and industrial biotechnology.
Over the last 25 years, our team has worked with over 300 healthcare companies, advising them on financial communications and investor relations, including major corporate activity such as fundraising, IPOs, M&A, as well as corporate reputation and crisis scenarios.
We have an exceptional network of contacts across the international investment community in Europe and the US; contacts we have built and maintained over the last three decades. The Optimum team includes ex-fund managers and analysts, as well as financial and corporate communications specialists.
For more information please visit www.optimumcomms.com
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STOCKHOLM, April 5, 2024 /PRNewswire/ — EQT AB’s Q1 Announcement 2024 will be published on Thursday 18 April 2024 at approximately 07:30 CEST. EQT will host a conference call at 08:30 CEST to present the report, followed by a Q&A session.
The presentation and a video link for the webcast will be available here from the time of the publication of the Q1 Announcement.
To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.
The webcast can be followed live here and a recording will be available afterwards.
Information on EQT AB’s financial reporting
The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.
The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.
Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]
Rickard Buch, Head of Corporate Communications, +46 72 989 09 11
EQT Press Office, [email protected], +46 8 506 55 334
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/eqt/r/invitation-to-presentation-of-eqt-ab-s-q1-announcement-2024,c3956826
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- Kia drives forward transformation into ‘Sustainable Mobility Solutions Provider’
- Roadmap enables Kia to proactively respond to uncertainties in mobility industry landscape, including changes in EV market
- Company to expand EV line-up with more models; enhance HEV line-up to manage fluctuation in EV demand
- Goal to sell 1.6 million EVs annually in 2030, introducing 15 models
- PBV to play a key role in Kia’s growth, targeting 250,000 PBV sales annually by 2030 with PV5 and PV7 models
- Kia to invest KRW 38 trillion by 2028, including KRW 15 trillion for future business
- 2024 business guidance : KRW 101 tln in revenue with KRW 12 tln in operating profit; operating profit margin of 11.9% on sales of 3.2 million units globally
- CEO reaffirms Kia’s commitment to ESG management
SEOUL, South Korea, April 5, 2024 /PRNewswire/ — Kia Corporation (Kia) today shared an update on its future strategies and financial targets at its CEO Investor Day in Seoul, Korea.
Based on its innovative achievements in the years since the announcement of mid-to-long-term business initiatives, Kia is focusing on updating its 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties across the global mobility industry landscape.
During the event, Kia updated its mid-to-long-term business strategy with a focus on electrification, and its PBV business. Kia reiterated its 2030 annual sales target of 4.3 million units, including 1.6 million units of electric vehicles (EVs). The 2030 4.3 million annual sales target is 34.4 percent higher than the brand’s 2024 annual goal of 3.2 million units.
The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs, projecting electrified model sales of 2.48 million units annually or 58 percent of Kia’s total sales in 2030.
“Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider,” said Ho Sung Song, President and CEO of Kia. “By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment.”
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VANCOUVER, BC, April 4, 2024 /PRNewswire/ — BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (the “Company“) is providing this bi-weekly update on the status of the management cease trade order granted on February 29, 2024 (the “MCTO“), by its principal regulator, the Ontario Securities Commission (the “OSC“), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), following the Company’s announcement on February 21, 2024 (the “Default Announcement“), that it was unable to file its audited annual financial statements for the year ended October 31, 2023, its management’s discussion and analysis of financial statements for the year ended October 31, 2023, its annual information form for the year ended October 31, 2023, and related filings (collectively, the “Required Annual Filings“). Under National Instrument 51-102, the Required Annual Filings were required to be made no later than February 28, 2024.
As a result of the delay in filing the Required Annual Filings, the Company was unable to file its interim financial statements for the three months ended January 31, 2024, its management’s discussion and analysis of financial statements for the three months ended January 31, 2024, and related filings (collectively, the “Required Interim Filings“). Under National Instrument 51-102, the Required Interim Filings were required to be made no later than April 1, 2024.
The Company anticipates filing the Required Annual Filings by April 30, 2024. The auditor of the Company requires additional time to complete its audit of the Company, including the Company’s recent acquisition of all intellectual property, immunotherapeutics platform technologies, and clinical stage assets of the former IMV Inc. that closed on February 16, 2024. In addition, the Company anticipates filing the Required Interim Filings immediately after the filing of the Required Annual Filings.
Except as herein disclosed, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Annual Filings and/or Required Interim Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Annual Filings and Required Interim Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.
About BioVaxys Technology Corp.
BioVaxys Technology Corp. (www.biovaxys.com), a biopharmaceuticals company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it’s HapTenix© ‘neoantigen’ tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization, and other immunological fields. The Company’s clinical stage pipeline includes maveropepimut-S which is in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum resistant ovarian cancer, and BVX-0918, a personalized immunotherapeutic vaccine using it proprietary HapTenix© ‘neoantigen’ tumor cell construct platform which is soon to enter Phase I in Spain for treating refractive late-stage ovarian cancer. The Company is also capitalizing on its tumor immunology know-how and creation of a unique library of T-lymphocytes & other datasets post-vaccination with its personalized immunotherapeutic vaccines to utilize predictive algorithms and other technologies to identify new targetable tumor antigens. BioVaxys common shares are listed on the CSE under the stock symbol “BIOV” and trade on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF). For more information, visit www.biovaxys.com and connect with us on X and LinkedIn.
ON BEHALF OF THE BOARD
Signed “James Passin“
James Passin, Chief Executive Officer
Phone: +1 646 452 7054
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