More than 100 biopharma executives and experts told Scrip their predictions for therapeutic area advances in the coming year. The recent commercial success of GLP-1s in diabetes and obesity and their potential in further disease areas fuelled excitement around the metabolic space. Expectations were also positive in neurology following the launch of Leqembi for Alzheimer’s disease in 2023, while the multiple opportunities to improve cancer treatment kept oncology top of the pile overall.

Mid-sized M&A, collaborations, creative financing, and biotech consolidation will feature in 2023. IPOs and follow-ons play bit-parts.

After withdrawing IPO plans last September, Elicio thinks merger with Angion will give it a cash runway through end of 2023 to advance ELI-002, a vaccine for mutant KRAS-driven solid tumors.

Biopharma stock prices overall are trending down again, but standout firms are raising cash, including the first company to price an IPO over $100m since May, Third Harmonic. Also, Sarepta and Alnylam launched large note offerings, totaling $1bn and $900m, respectively.