The path of spin-offs from loss-making biotech companies with weak investment propositions seems clouded with examples that often resulted in an appointment with the liquidator.

Public Company Edition: 2020 started with two $200m-plus initial public offerings plus five health care-focused special purpose acquisition corporations IPOs. Also, a Pfizer initiative backs three public companies, Fate’s $432m offering led recent FOPOs and Biocon Biologics receives more investment. 

Health technology assessment body NICE wants Kite to collect more evidence to prove that Tecartus can cure relapsed or refractory mantle cell lymphoma. But in the meantime, it says the CAR-T therapy should be made available on the National Health Service, making UK patients among the first in the world to be offered access to the treatment.

The number of new drugs containing new active substances approved in the EU rose significantly in 2020, underpinned by a strong showing for orphan-designated products and a string of novel medicines for cancer and infectious diseases. Notable among the new clutch of approvals was the first ever COVID-19 vaccine, Pfizer/BioNTech's Comirnaty.